CURRENT AFFAIRS

Detailed explanation-1: -World Bank Seminar (World Bank Tokyo Morning Seminar #153) “Commodity Markets Outlook (CMO) October 2022 Edition”

Detailed explanation-2: -After registering more than 48 percent increase this year, metal prices are projected to decline 5 percent in 2022. Agricultural prices, which are projected to rise more than 20 percent this year, are expected to broadly stabilize in 2022.

Detailed explanation-3: -Among precious metals, gold has lost around 1% in 2022, down for a second year, silver is up almost 3%, platinum has gained 11% and palladium is down 5%. As worries over recession cloud consumer demand, coffee is among the biggest commodities losers of the year.

Detailed explanation-4: -Agricultural prices are forecast to decline by 5 percent in 2023, reflecting better prospects for global production alongside lower input costs, particularly for fertilizers. Despite these projections, prices are expected to remain above pre-pandemic levels.

Detailed explanation-5: -“EIU expects commodity prices to recede in 2023 in the face of slowing demand globally, but an only limited increase in supply means that prices will remain high in level terms,” the research group noted in a commodities outlook for 2023.