India Stamp on Commodity Prices
The increase in the commodity price index was influenced by the demands of developing countries such as India In recent years, the price changes in commodity markets have been influenced by the demands of developing countries such as India.
The Ministry of Economy has prepared a report on commodity markets.
Given the World Bank’s commodity price statistics according to the report, in the last 10 years, crude oil, natural gas and Coal Index energy 240,1 per cent of the raw materials, agriculture, energy, metals and minerals of manure with non-141,5 per cent commodity price index, gold, silver, and platinum precious metals 380,5 per cent of the index increased.
In the first quarter of this year, the energy price index increased by 3.2 percent compared to the last quarter of 2012, while the non-energy commodity price index decreased by 0.4 percent and the precious metals price index decreased by 5.5 percent. compared to the first quarter of 2012, there was a decrease of 6.4 percent in energy, 3.4 percent in non-energy commodities, and 4.4 percent in precious metals.
According to forecasts for commodity prices, the energy price index is expected to decrease by 2.6 percent in 2013 compared to 2012, the non-energy commodity price index is expected to decrease by 2 percent, while the precious metals price index is not expected to change. in 2025, the energy price index is expected to decrease by 2.1 percent, the non-energy commodity price index by 6.5 percent, and the precious metals price index by 21.6 percent compared to 2012.
Decreased Instability in Food
In the last 10 years, compared to the period of 1993-2002, instability in vegetable oils, oilseeds, and foodstuffs has decreased, while instability in commodity groups other than these has increased. In this context, the commodity group in which instability increased the most was minerals, ores and metals; and the group in which it decreased the most was foodstuffs.
Despite the fact that the intense demands of developing countries such as China and India put upward pressure on prices, this demand was the main reason why energy and non-energy commodity prices fell last year.
The European debt crisis, the slowdown in the world’s leading developed economies, and the decrease in China’s production and input demand growth directly affected the decline in prices.
Although the upward trend in prices is expected to continue in the long term, changes in commodity price movements are expected to be affected by the global economic outlook and developments, especially in the Eurozone, in the short and medium term.
