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Commodity Market Outlook Report
November 4 , 2023
183 days
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- The World Bank released a report named Commodity Markets Outlook.
- The Russian invasion of Ukraine, has resulted in limited impact on commodity prices.
- It could bring “dual shock” to commodity markets as energy market turmoil could intensify food insecurity.
- The ban on exports of non-basmati rice by India has “roiled global markets since mid-July.
- Higher oil prices, if sustained, inevitably mean higher food prices.
- If a severe oil-price shock materialises, it would push up food price inflation that has already been elevated in many developing countries.
- At the end of 2022, more than 700 million people—nearly a tenth of the global population—were undernourished.
- India accounts for nearly 40 per cent of the world’s rice exports.
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