Global Commodity Markets : Review and Price Forecast
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...
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| Format: | Publications & Research |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2009/09/23887689/global-commodity-markets-review-price-forecast-companion-global-development-finance-2009 http://hdl.handle.net/10986/21550 |
| Summary: | 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. |
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