Most commodity prices tumbled in February—Pink Sheet

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Energy prices plunged nearly 13 percent in February, led by natural gas in Europe (-20%) and crude oil (-13%), the World Bank Pink Sheet reported.

Non-energy prices dropped almost 4% following declines in all sub-indexes but fertilizers.

Agricultural prices declined 2.8%, led by a 3.6% drop in food, followed by beverages and raw materials, down nearly 1.5% each.

Fertilizer prices increased marginally in response to a 2.5% gain in TSP.

Metals prices tumbled 6%, following declines in most components: zinc (-10.2%), iron ore (-8.4%), nickel (-5.9%), and copper (-5.7%).

Precious metals prices gained nearly 2% largely due to a 2.3% increase in gold.

 

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

 

Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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