Global Economic Prospects : Commodity Markets Outlook, January 2014
With the exception of energy, all the key commodity price indices declined significantly in 2013. Fertilizer prices led the decline, down 17.4 percent from 2012, followed by precious metals (down almost 17 percent), agriculture (-7.2 percent), and...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/18996 |
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okr-10986-18996 |
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oai_dc |
| repository_type |
Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
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AGGREGATE DEMAND AGRICULTURAL COMMODITIES AGRICULTURAL ECONOMICS AGRICULTURAL PRICE AGRICULTURAL PRICES APPROACH AUCTIONS AVAILABILITY BALANCE BOND BOND PURCHASES BORROWING COUNTRIES CENTRAL BANK CLIMATE CLIMATE CHANGE COAL COAL PRICES COCOA PRICES COFFEE PRICES COMMERCIALIZATION COMMODITY COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES CONSUMER DEMAND COST OF CAPITAL COTTON PRICES CRUDE OIL CRUDE OIL CONSUMPTION CRUDE OIL PRICE CRUDE OIL PRODUCTION CRUDE OIL SUPPLIES CURRENCY DATA AVAILABILITY DEBT DEMAND GROWTH DEVELOPING COUNTRY DIVIDEND DOMESTIC MARKETS DOMESTIC PRICE DOMESTIC PRICES DRILLING ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH EFFICIENCY GAINS EFFICIENCY IMPROVEMENTS ELECTRICITY ELECTRICITY GENERATION EMERGING ECONOMIES EMISSIONS ENERGY COSTS ENERGY ECONOMICS ENERGY INFORMATION ADMINISTRATION ENERGY MARKETS ENERGY POLICY ENERGY PRICES ENVIRONMENTAL CONCERNS EQUILIBRIUM PRICE EQUITY MARKET EQUITY MARKETS ETHANOL EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXPENDITURES FAIR FEDERAL RESERVE FINANCIAL CRISIS FINANCING ARRANGEMENTS FISCAL POLICY FOOD PRICE FOOD PRICES FOREIGN INVESTMENT FUTURES GAS PIPELINES GAS SUPPLIES GENERAL EQUILIBRIUM MODEL GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL MARKET GLOBAL OUTPUT GLOBAL RISK GOLD PRICES HEDGE FUND HIGH ENERGY INTENSITY HOME COUNTRIES IMPORTS INCOME INCOMES INFLATION INFLATION EXPECTATIONS INFORMATION SYSTEM INPUT PRICES INSTITUTIONAL INVESTORS INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL FINANCE INVENTORIES INVENTORY LARGE-SCALE INVESTMENTS LIQUIDITY LNG LNG FACILITIES LOCAL CURRENCIES LOWER PRICES MARGINAL PRICE MARKET ANALYSIS MARKET CONDITIONS MARKET PERFORMANCE MARKET PRICES MARKET VOLATILITY MARKETING MONETARY FUND MONETARY POLICY NATURAL GAS NATURAL GAS PRICES NATURAL RESOURCES NUCLEAR POWER OIL OIL DEMAND OIL EQUIVALENT OIL EXPORTS OIL MARKETS OIL OUTPUT OIL PRICE OIL PRICES OIL SHOCKS OIL SPILLS OIL SUPPLY OILS PIPELINE POLICY ANALYSIS POLICY MAKERS POLITICAL ECONOMY PORTFOLIO PORTFOLIO MANAGERS POTASSIUM POWER PARITY PRELIMINARY ESTIMATES PRICE CHANGE PRICE CHANGES PRICE FORECAST PRICE FORECASTS PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE INDEXES PRICE INDICES PRICE INFLATION PRICE LEVEL PRICE LEVELS PRICE MOVEMENTS PRICE OF OIL PRICE RISKS PRICE TREND PRICE TRENDS PRICE VOLATILITY PRODUCER PRICES PUBLIC POLICY PURCHASING PURCHASING POWER RAPID EXPANSION RAW MATERIAL RAW MATERIALS RECOVERABLE RESERVES RELATIVE PRICE RESERVE BANK RESOURCE ECONOMICS SOYBEAN MEAL SOYBEAN OIL SPREAD STOCKS SUBSTITUTION SUPPLIER SUPPLIERS SUPPLY SIDE SURPLUS TRADE DEFICIT TRADING SESSIONS TREASURY TREASURY BILLS VOLATILITY WHOLESALE PRICES WORLD CONSUMPTION |
| spellingShingle |
AGGREGATE DEMAND AGRICULTURAL COMMODITIES AGRICULTURAL ECONOMICS AGRICULTURAL PRICE AGRICULTURAL PRICES APPROACH AUCTIONS AVAILABILITY BALANCE BOND BOND PURCHASES BORROWING COUNTRIES CENTRAL BANK CLIMATE CLIMATE CHANGE COAL COAL PRICES COCOA PRICES COFFEE PRICES COMMERCIALIZATION COMMODITY COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES CONSUMER DEMAND COST OF CAPITAL COTTON PRICES CRUDE OIL CRUDE OIL CONSUMPTION CRUDE OIL PRICE CRUDE OIL PRODUCTION CRUDE OIL SUPPLIES CURRENCY DATA AVAILABILITY DEBT DEMAND GROWTH DEVELOPING COUNTRY DIVIDEND DOMESTIC MARKETS DOMESTIC PRICE DOMESTIC PRICES DRILLING ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH EFFICIENCY GAINS EFFICIENCY IMPROVEMENTS ELECTRICITY ELECTRICITY GENERATION EMERGING ECONOMIES EMISSIONS ENERGY COSTS ENERGY ECONOMICS ENERGY INFORMATION ADMINISTRATION ENERGY MARKETS ENERGY POLICY ENERGY PRICES ENVIRONMENTAL CONCERNS EQUILIBRIUM PRICE EQUITY MARKET EQUITY MARKETS ETHANOL EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXPENDITURES FAIR FEDERAL RESERVE FINANCIAL CRISIS FINANCING ARRANGEMENTS FISCAL POLICY FOOD PRICE FOOD PRICES FOREIGN INVESTMENT FUTURES GAS PIPELINES GAS SUPPLIES GENERAL EQUILIBRIUM MODEL GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL MARKET GLOBAL OUTPUT GLOBAL RISK GOLD PRICES HEDGE FUND HIGH ENERGY INTENSITY HOME COUNTRIES IMPORTS INCOME INCOMES INFLATION INFLATION EXPECTATIONS INFORMATION SYSTEM INPUT PRICES INSTITUTIONAL INVESTORS INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL FINANCE INVENTORIES INVENTORY LARGE-SCALE INVESTMENTS LIQUIDITY LNG LNG FACILITIES LOCAL CURRENCIES LOWER PRICES MARGINAL PRICE MARKET ANALYSIS MARKET CONDITIONS MARKET PERFORMANCE MARKET PRICES MARKET VOLATILITY MARKETING MONETARY FUND MONETARY POLICY NATURAL GAS NATURAL GAS PRICES NATURAL RESOURCES NUCLEAR POWER OIL OIL DEMAND OIL EQUIVALENT OIL EXPORTS OIL MARKETS OIL OUTPUT OIL PRICE OIL PRICES OIL SHOCKS OIL SPILLS OIL SUPPLY OILS PIPELINE POLICY ANALYSIS POLICY MAKERS POLITICAL ECONOMY PORTFOLIO PORTFOLIO MANAGERS POTASSIUM POWER PARITY PRELIMINARY ESTIMATES PRICE CHANGE PRICE CHANGES PRICE FORECAST PRICE FORECASTS PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE INDEXES PRICE INDICES PRICE INFLATION PRICE LEVEL PRICE LEVELS PRICE MOVEMENTS PRICE OF OIL PRICE RISKS PRICE TREND PRICE TRENDS PRICE VOLATILITY PRODUCER PRICES PUBLIC POLICY PURCHASING PURCHASING POWER RAPID EXPANSION RAW MATERIAL RAW MATERIALS RECOVERABLE RESERVES RELATIVE PRICE RESERVE BANK RESOURCE ECONOMICS SOYBEAN MEAL SOYBEAN OIL SPREAD STOCKS SUBSTITUTION SUPPLIER SUPPLIERS SUPPLY SIDE SURPLUS TRADE DEFICIT TRADING SESSIONS TREASURY TREASURY BILLS VOLATILITY WHOLESALE PRICES WORLD CONSUMPTION Baffes, John Cosic, Damir Global Economic Prospects : Commodity Markets Outlook, January 2014 |
| description |
With the exception of energy, all the
key commodity price indices declined significantly in 2013.
Fertilizer prices led the decline, down 17.4 percent from
2012, followed by precious metals (down almost 17 percent),
agriculture (-7.2 percent), and metals (-5.5 percent). Crude
oil prices (World Bank average), which have been remarkably
stable during the past three years, averaged $104/barrel
(bbl) during 2013, marginally lower than the $105/bbl
average of 2012. Most non-energy commodity prices, notably
grains, followed a downward path during 2013. Other risks
for agricultural markets are mostly on the downside as well.
For example, the risk of trade policies impacting
agricultural prices is low as evidenced by the absence of
any export restrictions during 2011-13, despite several
spikes in prices (notably maize and wheat). Finally,
production of biofuels experienced a third year of little
(or no) growth, as policy makers increasingly realize that
the environmental and energy independence benefits from
biofuels may not outweigh the costs. |
| format |
Publications & Research :: Working Paper |
| author |
Baffes, John Cosic, Damir |
| author_facet |
Baffes, John Cosic, Damir |
| author_sort |
Baffes, John |
| title |
Global Economic Prospects : Commodity Markets Outlook, January 2014 |
| title_short |
Global Economic Prospects : Commodity Markets Outlook, January 2014 |
| title_full |
Global Economic Prospects : Commodity Markets Outlook, January 2014 |
| title_fullStr |
Global Economic Prospects : Commodity Markets Outlook, January 2014 |
| title_full_unstemmed |
Global Economic Prospects : Commodity Markets Outlook, January 2014 |
| title_sort |
global economic prospects : commodity markets outlook, january 2014 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://hdl.handle.net/10986/18996 |
| _version_ |
1764443326685118464 |
| spelling |
okr-10986-189962017-12-14T05:16:27Z Global Economic Prospects : Commodity Markets Outlook, January 2014 Baffes, John Cosic, Damir AGGREGATE DEMAND AGRICULTURAL COMMODITIES AGRICULTURAL ECONOMICS AGRICULTURAL PRICE AGRICULTURAL PRICES APPROACH AUCTIONS AVAILABILITY BALANCE BOND BOND PURCHASES BORROWING COUNTRIES CENTRAL BANK CLIMATE CLIMATE CHANGE COAL COAL PRICES COCOA PRICES COFFEE PRICES COMMERCIALIZATION COMMODITY COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES CONSUMER DEMAND COST OF CAPITAL COTTON PRICES CRUDE OIL CRUDE OIL CONSUMPTION CRUDE OIL PRICE CRUDE OIL PRODUCTION CRUDE OIL SUPPLIES CURRENCY DATA AVAILABILITY DEBT DEMAND GROWTH DEVELOPING COUNTRY DIVIDEND DOMESTIC MARKETS DOMESTIC PRICE DOMESTIC PRICES DRILLING ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH EFFICIENCY GAINS EFFICIENCY IMPROVEMENTS ELECTRICITY ELECTRICITY GENERATION EMERGING ECONOMIES EMISSIONS ENERGY COSTS ENERGY ECONOMICS ENERGY INFORMATION ADMINISTRATION ENERGY MARKETS ENERGY POLICY ENERGY PRICES ENVIRONMENTAL CONCERNS EQUILIBRIUM PRICE EQUITY MARKET EQUITY MARKETS ETHANOL EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXPENDITURES FAIR FEDERAL RESERVE FINANCIAL CRISIS FINANCING ARRANGEMENTS FISCAL POLICY FOOD PRICE FOOD PRICES FOREIGN INVESTMENT FUTURES GAS PIPELINES GAS SUPPLIES GENERAL EQUILIBRIUM MODEL GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL MARKET GLOBAL OUTPUT GLOBAL RISK GOLD PRICES HEDGE FUND HIGH ENERGY INTENSITY HOME COUNTRIES IMPORTS INCOME INCOMES INFLATION INFLATION EXPECTATIONS INFORMATION SYSTEM INPUT PRICES INSTITUTIONAL INVESTORS INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL FINANCE INVENTORIES INVENTORY LARGE-SCALE INVESTMENTS LIQUIDITY LNG LNG FACILITIES LOCAL CURRENCIES LOWER PRICES MARGINAL PRICE MARKET ANALYSIS MARKET CONDITIONS MARKET PERFORMANCE MARKET PRICES MARKET VOLATILITY MARKETING MONETARY FUND MONETARY POLICY NATURAL GAS NATURAL GAS PRICES NATURAL RESOURCES NUCLEAR POWER OIL OIL DEMAND OIL EQUIVALENT OIL EXPORTS OIL MARKETS OIL OUTPUT OIL PRICE OIL PRICES OIL SHOCKS OIL SPILLS OIL SUPPLY OILS PIPELINE POLICY ANALYSIS POLICY MAKERS POLITICAL ECONOMY PORTFOLIO PORTFOLIO MANAGERS POTASSIUM POWER PARITY PRELIMINARY ESTIMATES PRICE CHANGE PRICE CHANGES PRICE FORECAST PRICE FORECASTS PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE INDEXES PRICE INDICES PRICE INFLATION PRICE LEVEL PRICE LEVELS PRICE MOVEMENTS PRICE OF OIL PRICE RISKS PRICE TREND PRICE TRENDS PRICE VOLATILITY PRODUCER PRICES PUBLIC POLICY PURCHASING PURCHASING POWER RAPID EXPANSION RAW MATERIAL RAW MATERIALS RECOVERABLE RESERVES RELATIVE PRICE RESERVE BANK RESOURCE ECONOMICS SOYBEAN MEAL SOYBEAN OIL SPREAD STOCKS SUBSTITUTION SUPPLIER SUPPLIERS SUPPLY SIDE SURPLUS TRADE DEFICIT TRADING SESSIONS TREASURY TREASURY BILLS VOLATILITY WHOLESALE PRICES WORLD CONSUMPTION With the exception of energy, all the key commodity price indices declined significantly in 2013. Fertilizer prices led the decline, down 17.4 percent from 2012, followed by precious metals (down almost 17 percent), agriculture (-7.2 percent), and metals (-5.5 percent). Crude oil prices (World Bank average), which have been remarkably stable during the past three years, averaged $104/barrel (bbl) during 2013, marginally lower than the $105/bbl average of 2012. Most non-energy commodity prices, notably grains, followed a downward path during 2013. Other risks for agricultural markets are mostly on the downside as well. For example, the risk of trade policies impacting agricultural prices is low as evidenced by the absence of any export restrictions during 2011-13, despite several spikes in prices (notably maize and wheat). Finally, production of biofuels experienced a third year of little (or no) growth, as policy makers increasingly realize that the environmental and energy independence benefits from biofuels may not outweigh the costs. 2014-07-22T20:26:55Z 2014-07-22T20:26:55Z 2014-01 http://hdl.handle.net/10986/18996 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |