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Global Commodity Markets : Review and Price Forecast

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  • World Bank

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.

Suggested Citation

  • World Bank, 2009. "Global Commodity Markets : Review and Price Forecast," World Bank Publications - Books, The World Bank Group, number 21550, December.
    • Handle: RePEc:wbk:wbpubs:21550
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/21550/938920WP0GCM2009Sep0Box385381B00PUBLIC0.pdf?sequence=1
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    Cited by:

    1. Chandra, Vandana & Osorio Rodarte, Israel, 2009. "Options for Income-Enhancing Diversification in Burkina Faso," MPRA Paper 20928, University Library of Munich, Germany.

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