Global Commodity Markets : Review and Price Forecast
This is a companion to the Global Economic Prospects 2010. Most commodity prices reached historical highs in mid-2008, giving rise to the longest and broadest commodity boom of the post-WWII period. Apart from strong and sustained economic growth,...
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| Online Access: | http://documents.worldbank.org/curated/en/447481468326171884/Global-commodity-markets-review-and-price-forecast-a-companion-to-global-economic-prospects-2010 http://hdl.handle.net/10986/27846 |
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okr-10986-278462021-04-23T14:04:44Z Global Commodity Markets : Review and Price Forecast World Bank ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURAL PRICES ALUMINUM PRICES AUCTION AVAILABILITY BALANCE BANK INDONESIA BARRELS OF OIL CLIMATE CLIMATE CHANGES COAL COCOA PRICES COFFEE PRICES COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES COPPER PRICE COPPER PRICES COTTON PRICES CRUDE OIL CRUDE OIL CONSUMPTION CRUDE OIL PRICE CRUDE OIL STOCKS CURRENT PRICES DEMAND GROWTH ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC RECOVERY EFFICIENCY GAINS ENERGY COSTS ENERGY PRICE ENERGY PRICES ENERGY PRODUCTS ENERGY SOURCES ETHANOL ETHANOL INDUSTRY ETHANOL PRODUCER ETHANOL PRODUCTION EXPORT VOLUMES FEEDSTOCK FEEDSTOCK FOR ETHANOL FINANCIAL CRISIS FORWARD MARKETS GAS PRODUCTION GLOBAL RECESSION GOLD PRICE GOLD PRICES HIGHER ENERGY PRICES IDLE CAPACITY IMPORTS INCOME INFLATION INVENTORIES INVENTORY MANDATES NATURAL GAS NATURAL GAS PRICES NOMINAL PRICES NUCLEAR POWER OIL OIL CONSUMPTION OIL DEMAND OIL OUTPUT OIL PRICE OIL PRICES OIL PRODUCERS OIL PRODUCTS OIL SUPPLY OIL USE OILS PETROLEUM PETROLEUM PRICES POWER DEMAND POWER PRICES PRELIMINARY ESTIMATES PRICE FORECAST PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE LEVELS PRICE PROJECTIONS PRICES OF ENERGY PRODUCTIVITY PURCHASING RAW MATERIAL RAW MATERIALS REAL PRICES RESERVE BANK OF INDIA SALES SOYBEAN OIL SPOT MARKETS STABLE PRICES STOCKS SUBSIDIARY SUBSTITUTE SUBSTITUTION SUGARCANE SUGARCANE PRODUCTION SUPPLIERS SUPPLY SIDE SURPLUS SURPLUSES SYNTHETIC RUBBER TRANSPORT URBANIZATION VOLATILITY WORLD CONSUMPTION WORLD MARKET This is a companion to the Global Economic Prospects 2010. Most commodity prices reached historical highs in mid-2008, giving rise to the longest and broadest commodity boom of the post-WWII period. Apart from strong and sustained economic growth, the boom was fueled by numerous factors including years of low prices and low investment; a weak dollar; and investment fund activity. Rapid economic growth caused global stocks of many commodities to fall to levels not seen since the early 1970s, in turn accelerating the price increases that peaked in 2008. Further exacerbating the demand and supply mismatch were the diversion of some food commodities to the production of biofuels, adverse weather conditions, and government policies such as export bans and prohibitive taxes. The financial crisis that erupted in September 2008 and the subsequent global economic downturn relieved most of the demand-side pressures and induced sharp price declines across most commodity sectors. The largest declines occurred in industrial commodities such as metals (which had also registered the greatest gains in the early 2000s). Between July 2008 and February 2009, prices of energy declined by two-thirds while those of metals dropped by more than half. Prices of agricultural goods retreated by more than 30 percent, with prices of edible oils dropping by 42 percent. The troughs in energy and non-energy indices broadly coincided with troughs in global economic activity (particularly in China and East Asia). 2017-08-15T18:53:59Z 2017-08-15T18:53:59Z 2010 Report http://documents.worldbank.org/curated/en/447481468326171884/Global-commodity-markets-review-and-price-forecast-a-companion-to-global-economic-prospects-2010 http://hdl.handle.net/10986/27846 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 |
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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 |
| topic |
ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURAL PRICES ALUMINUM PRICES AUCTION AVAILABILITY BALANCE BANK INDONESIA BARRELS OF OIL CLIMATE CLIMATE CHANGES COAL COCOA PRICES COFFEE PRICES COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES COPPER PRICE COPPER PRICES COTTON PRICES CRUDE OIL CRUDE OIL CONSUMPTION CRUDE OIL PRICE CRUDE OIL STOCKS CURRENT PRICES DEMAND GROWTH ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC RECOVERY EFFICIENCY GAINS ENERGY COSTS ENERGY PRICE ENERGY PRICES ENERGY PRODUCTS ENERGY SOURCES ETHANOL ETHANOL INDUSTRY ETHANOL PRODUCER ETHANOL PRODUCTION EXPORT VOLUMES FEEDSTOCK FEEDSTOCK FOR ETHANOL FINANCIAL CRISIS FORWARD MARKETS GAS PRODUCTION GLOBAL RECESSION GOLD PRICE GOLD PRICES HIGHER ENERGY PRICES IDLE CAPACITY IMPORTS INCOME INFLATION INVENTORIES INVENTORY MANDATES NATURAL GAS NATURAL GAS PRICES NOMINAL PRICES NUCLEAR POWER OIL OIL CONSUMPTION OIL DEMAND OIL OUTPUT OIL PRICE OIL PRICES OIL PRODUCERS OIL PRODUCTS OIL SUPPLY OIL USE OILS PETROLEUM PETROLEUM PRICES POWER DEMAND POWER PRICES PRELIMINARY ESTIMATES PRICE FORECAST PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE LEVELS PRICE PROJECTIONS PRICES OF ENERGY PRODUCTIVITY PURCHASING RAW MATERIAL RAW MATERIALS REAL PRICES RESERVE BANK OF INDIA SALES SOYBEAN OIL SPOT MARKETS STABLE PRICES STOCKS SUBSIDIARY SUBSTITUTE SUBSTITUTION SUGARCANE SUGARCANE PRODUCTION SUPPLIERS SUPPLY SIDE SURPLUS SURPLUSES SYNTHETIC RUBBER TRANSPORT URBANIZATION VOLATILITY WORLD CONSUMPTION WORLD MARKET |
| spellingShingle |
ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURAL PRICES ALUMINUM PRICES AUCTION AVAILABILITY BALANCE BANK INDONESIA BARRELS OF OIL CLIMATE CLIMATE CHANGES COAL COCOA PRICES COFFEE PRICES COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICES COPPER PRICE COPPER PRICES COTTON PRICES CRUDE OIL CRUDE OIL CONSUMPTION CRUDE OIL PRICE CRUDE OIL STOCKS CURRENT PRICES DEMAND GROWTH ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC RECOVERY EFFICIENCY GAINS ENERGY COSTS ENERGY PRICE ENERGY PRICES ENERGY PRODUCTS ENERGY SOURCES ETHANOL ETHANOL INDUSTRY ETHANOL PRODUCER ETHANOL PRODUCTION EXPORT VOLUMES FEEDSTOCK FEEDSTOCK FOR ETHANOL FINANCIAL CRISIS FORWARD MARKETS GAS PRODUCTION GLOBAL RECESSION GOLD PRICE GOLD PRICES HIGHER ENERGY PRICES IDLE CAPACITY IMPORTS INCOME INFLATION INVENTORIES INVENTORY MANDATES NATURAL GAS NATURAL GAS PRICES NOMINAL PRICES NUCLEAR POWER OIL OIL CONSUMPTION OIL DEMAND OIL OUTPUT OIL PRICE OIL PRICES OIL PRODUCERS OIL PRODUCTS OIL SUPPLY OIL USE OILS PETROLEUM PETROLEUM PRICES POWER DEMAND POWER PRICES PRELIMINARY ESTIMATES PRICE FORECAST PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE LEVELS PRICE PROJECTIONS PRICES OF ENERGY PRODUCTIVITY PURCHASING RAW MATERIAL RAW MATERIALS REAL PRICES RESERVE BANK OF INDIA SALES SOYBEAN OIL SPOT MARKETS STABLE PRICES STOCKS SUBSIDIARY SUBSTITUTE SUBSTITUTION SUGARCANE SUGARCANE PRODUCTION SUPPLIERS SUPPLY SIDE SURPLUS SURPLUSES SYNTHETIC RUBBER TRANSPORT URBANIZATION VOLATILITY WORLD CONSUMPTION WORLD MARKET World Bank Global Commodity Markets : Review and Price Forecast |
| description |
This is a companion to the Global
Economic Prospects 2010. Most commodity prices reached
historical highs in mid-2008, giving rise to the longest and
broadest commodity boom of the post-WWII period. Apart from
strong and sustained economic growth, the boom was fueled by
numerous factors including years of low prices and low
investment; a weak dollar; and investment fund activity.
Rapid economic growth caused global stocks of many
commodities to fall to levels not seen since the early
1970s, in turn accelerating the price increases that peaked
in 2008. Further exacerbating the demand and supply mismatch
were the diversion of some food commodities to the
production of biofuels, adverse weather conditions, and
government policies such as export bans and prohibitive
taxes. The financial crisis that erupted in September 2008
and the subsequent global economic downturn relieved most of
the demand-side pressures and induced sharp price declines
across most commodity sectors. The largest declines occurred
in industrial commodities such as metals (which had also
registered the greatest gains in the early 2000s). Between
July 2008 and February 2009, prices of energy declined by
two-thirds while those of metals dropped by more than half.
Prices of agricultural goods retreated by more than 30
percent, with prices of edible oils dropping by 42 percent.
The troughs in energy and non-energy indices broadly
coincided with troughs in global economic activity
(particularly in China and East Asia). |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Global Commodity Markets : Review and Price Forecast |
| title_short |
Global Commodity Markets : Review and Price Forecast |
| title_full |
Global Commodity Markets : Review and Price Forecast |
| title_fullStr |
Global Commodity Markets : Review and Price Forecast |
| title_full_unstemmed |
Global Commodity Markets : Review and Price Forecast |
| title_sort |
global commodity markets : review and price forecast |
| publisher |
Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/447481468326171884/Global-commodity-markets-review-and-price-forecast-a-companion-to-global-economic-prospects-2010 http://hdl.handle.net/10986/27846 |
| _version_ |
1764465216956923904 |