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Commodity prices declined further in March—Pink Sheet

April 07, 2023

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Energy prices declined 6.3% in March, led by natural gas in Europe (-16.5%) and coal (-9.8%), the World Bank’s Pink sheet reported. Non-energy prices dropped 2.2%, with all key components registering losses.

Agricultural prices eased 1.6% in March. Food and raw material prices declined 2% and 1%, respectively, while beverage prices remained largely unchanged. Fertilizer prices declined 3.6%, led by Urea (-12.3%) and MOP (-8.8%).

Metal prices dropped 3.2% in March, led by nickel (-12.9%), tin (-10.7%), zinc (-5.3%), and aluminum (-5%). Precious metals gained 2.7%, led by gold (+3.1%).

The Pink Sheet is a monthly report that monitors commodity price movements.

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Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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Maria Hazel Macadangdang

Research Analyst, Prospects Group, World Bank

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