Highlights:

• Since the last update on September 26, 2024, the agricultural and cereal price indices closed 1 and 2 percent lower, respectively; the export price index closed at the same level.

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

• The Agricultural Market Information System (AMIS) Market Monitor for October 2024 reported record-high global temperatures, a well-supplied fertilizer market, and softened rice prices following India's export policy changes.

• A World Bank blog highlights the need to repurpose harmful agricultural subsidies to support sustainable practices.

• According to the most recent Famine Early Warning Systems Network (FEWS NET) Global Weather Hazards Summary, El Niño–Southern Oscillation (ENSO)-neutral conditions prevail, with a La Niña event likely to emerge between September and November.

• The World Bank Group Annual Meetings public event on October 23 will lay out the immense yet untapped economic and development potential of the food sector and discuss client country and private sector innovations.