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Commodity prices soared further in March—Pink Sheet

April 06, 2022

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Energy prices surged 24.1% in March, led by crude oil (+20.2%), coal (+49.9%), and natural gas, Europe (+55.7%), the World Bank’s Pink Sheet reported. Non-energy prices gained 8.1%.

Agricultural prices climbed 7.2% in March. Food prices increased 11.6%, led by grains (+14.5%) and oils & meals (+12.1%). Beverages and raw material prices declined 6.1% and 1.1%, respectively. Fertilizer prices surged 20.7%.

Metal prices increased 7.7% in March, led by nickel (41.3%), zinc (9.5%), aluminum (+7.8%), and iron ore (+6.5%). Precious metal prices rose 5.3%, led by silver (+7.5%) and gold (+4.9%).

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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