Highlights:

• The agricultural and export price indices each closed 2 percent lower than two weeks ago, and the cereal price index closed 1 percent lower.

• Domestic food price inflation remains high in low-, middle-, and high-income countries.

• The October 2023 edition of the Agricultural Market Information System (AMIS) Market Monitor highlights recent developments in commodity markets, including surging rice prices following India's ban on non-basmati rice exports in July 2023.

• An International Food Research Policy Institute (IFPRI) blog highlights various factors that are projected to contribute to an increase in rice prices over the next few months.

• The Famine Early Warning Systems Network expects that approximately 100 million people worldwide will need food assistance through early 2024, partly because of the ongoing strong El Niño event.