Highest Commodity Prices In 60 Years Forecast By World Bank
A new economic forecast from the World Bank, published by BBC, forecasts some of the highest commodity prices in 60 years. The war in the Ukraine is expected to keep commodity prices high through 2024. "Wheat is forecast to increase 42.7% and reach new record highs in dollar terms. Other notable increases will be 33.3% for barley, 20% for soybeans and 29.8% for oils and 41.8% for chicken...Prices for other raw materials including fertilisers, metals and minerals are also predicted to go up. The costs of timber, tea and rice are amongst the few expected to fall." A "69% increase in fertiliser prices" may cause yields to fall as farmers use less in the next several years.
Ukraine war to cause biggest price shock in 50 years - World Bank
--- Robert W. Neill, Jr. is a sixth-generation farm and land owner and a licensed real estate broker who represents buyers of farm, land and real estate properties and is an investor in small businesses and startup companies. He can be contacted through his web site at landhungry.com
