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Commodity prices inched up in March—Pink Sheet

April 08, 2024

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Energy prices gained 2% in March, led by coal (+5.9%) and natural gas Europe (+5%), the World Bank's Pink Sheet reported. Non-energy prices increased by 2.2%.

Agricultural prices rose by 2.9% in March. Food prices inched up by 0.6%, as 0.9% increase in oils and meals was offset by a 0.7% decline in grains. Raw materials gained marginally, by 1.1%, while beverages surged 14%. Fertilizer prices eased 2.3%.

Metal prices rose by 1.4% in March, led by nickel (+6.7%) and tin (+5.2%); iron ore plunged 11.7%. Precious metals increased by 6.8%, led by silver (+8.2%) and gold (+6.7%).

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

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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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