Global Commodity Markets: Review and Price Forecast

World Bank

No 21550 in World Bank Publications - Books from The World Bank Group

Abstract: A companion to Global Development Finance 2009. The slowing of global growth, which preceded the financial crisis by several months, prompted commodity prices to start falling in mid-2008. The eruption of the full-blown crisis and the rapid drop-off in economic activity since September of that year accelerated this process markedly. Demand for most commodities (notably, in high-income industries and in China) slowed or declined, particularly for oil and metals. By December 2008, crude oil prices had dropped to $41 a barrel, down more than 70 percent from the July peaks, while non-energy prices, including food,had declined by nearly 40 percent. Since December, prices have firmed, with crude oil prices up to $69 on average in June 2009, and prices for foods and metals up 22 and 13 percent, respectively.

Keywords: Crops; and; Crop; Management; Systems; Macroeconomics; and; Economic; Growth-Markets; and; Market; Access; Food; and; Beverage; Industry; International; Economics; and; Trade-Access; to; Markets; Energy-Energy; Production; and; Transportation; Agriculture; Industry (search for similar items in EconPapers)
Date: 2009
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