Sri Lanka, Nov. 3 -- Global commodity prices are forecast to rise by 23% in 2026, driven by escalating geopolitical tensions, supply chain disruptions and climate-related threats to agricultural production, according to the World Bank Group's latest Commodity Markets Outlook.

Energy prices are expected to increase by 32% this year, reversing three consecutive years of declines, with Brent crude oil projected to average US$91 a barrel, up from US$69 in 2025. Prices are expected to moderate to US$79 a barrel in 2027.

Food commodity prices are also forecast to rise by around 10% in 2026 and a further 7% in 2027, reflecting disruptions to grain shipments, the threat of El Nino-related crop losses, and higher fuel and fertiliser costs.

The ...