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A Shock Like No Other: The Impact of COVID-19 on …

SPECIAL FOCUS. A Shock Like No other : The Impact of COVID-19 on commodity Markets C O M M O D I T Y M A R K E T S O U T LO O K | A P R I L 2 0 2 0 S P EC IAL FO CU S 7. A Shock Like No other : The Impact of COVID-19 on commodity Markets The outbreak of COVID-19 has been accompanied by widespread declines in global commodity prices. The pandemic represents a unique Shock that has a major Impact on both the demand and supply of commodities. Oil markets have been most affected, given the collapse in travel arising from mitigation measures, and have seen an unprecedented collapse in demand and steepest one-month decline in oil prices on record.

COMMODITY MARKETS OUTLOOK | APRIL 2020 SPECIAL FOCUS 9 may be curtailed if vast numbers of people are subject to movement restrictions, including across borders. This is of great concern for agricultural production, especially in advanced economies, where there is a heavy reliance on migrant workers ...

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