World Bank Commodities Price Forecast (nominal US dollars ...

1 World Bank Commodities Price Forecast (nominal US dollars )Released: October 21, 2021 CommodityUnit201520162017201820192020202 1202220232024202520302035 EnergyCoal, Australia$ Crude oil, avg$ Natural gas, Europe$ Natural gas, US$ Liquefied natural gas, Japan$ Non Energy CommoditiesAgricultureBeveragesCocoa$ Coffee, Arabica$ Coffee, Robusta$ Tea, average$ FoodOils and MealsCoconut oil$/mt1,104 1,482 1,651 997 736 1,010 1,525 1,560 1,570 1,580 1,591 1,645 1,700 Groundnut oil$/mt1,378 1,381 1,461 1,446 1,407 1,698 2,050 1,950 2,000 2,016 2,032 2,114 2,200 Palm oil$/mt663 736 751 639 601 752 1,100 1,075 1,050 1,054 1,058 1,079 1.

2 100 Soybean meal$/mt389 375 350 405 347 394 485 490 475 481 487 517 550 Soybean oil$/mt756 815 850 789 765 838 1,375 1,425 1,350 1,363 1,377 1,447 1,520 Soybeans$/mt392 405 393 394 369 407 580 585 550 555 560 584 610 GrainsBarley$/mt121104981261289312011811 5117119129140 Maize$/mt1701591551641701652502252352372 39249260 Rice, Thailand, 5%$/mt3863963994214184974554004104184274 71520 Wheat, US, HRW$/mt204167174210202211255250245247249 259270 Other FoodBananas, US$ Meat, beef$ Meat, chicken$ Oranges$ Shrimp$ Sugar, World $ Raw MaterialsTimberLogs, Africa$/cum38938739541439239941542042042 2425437450 Logs, Asia$/cum2462742652702732792752802852892 92310330 Sawnwood, Asia$/cum8337397027286967007557607657747 82827875 Other Raw MaterialsCotton A Index$ Rubber, RSS3$ Tobacco$/mt4,908 4,790 4,627 4,866 4,579 4,336 4,200 4,225 4,275 4,293 4,312 4,405 4.

3 500 FertilizersDAP$/mt4173163233933063125906 00450400350397450 Phosphate rock$/mt12011090888876120130110100102115 130 Potassium chloride$/mt2962602182162562182103252752 77279289300 TSP$/mt378290283347295265525520400360320 358400 Urea, E. Europe$/mt278194214249245229380375300275 280304330 Metals and MineralsAluminum $/mt1,665 1,604 1,968 2,108 1,794 1,704 2,550 2,700 2,500 2,400 2,409 2,454 2,500 Copper$/mt5,510 4,868 6,170 6,530 6,010 6,174 9,300 8,800 8,200 7,500 7,544 7,769 8,000 Iron ore$ $/mt1,788 1,867 2,315 2,240 1,997 1,825 2,200 2,100 2,000 2,008 2,016 2,058 2,100 Nickel$/mt11,863 9,595 10,410 13,114 13,914 13,787 18,500 17,750 17,000 17,081 17,163 17,576 18,000 Tin$/mt16,067 17,934 20,061 20,145 18,661 17,125 31,250 31,000 29,500 28,000 27,713 26,322 25,000 Zinc$/mt1,932 2,090 2,891 2,922 2,550 2,266 2,950 2,822 2,400 2,408 2,416 2,458 2,500 Precious MetalsGold$/toz1,161 1,249 1,258 1,269 1,392 1,770 1,795 1,750 1.

4 730 1,719 1,708 1,653 1,600 Silver$ Platinum$/toz1,053 987 948 880 864 883 1,100 1,000 1,015 1,033 1,051 1,146 1,250 Next update: April 2022 Forecasts- 1 - World Bank Commodities Price Forecast (constant US dollars )Released: October 21, 2021 CommodityUnit201520162017201820192020202 1202220232024202520302035 EnergyCoal, Australia$ Crude oil, avg$ Natural gas, Europe$ Natural gas, US$ Liquefied natural gas, Japan$ Non Energy CommoditiesAgricultureBeveragesCocoa$ Coffee.

5 Arabica$ Coffee, Robusta$ Tea, average$ FoodFats and OilsCoconut oil$/mt1,128 1,576 1,696 979 740 1,021 1,516 1,526 1,509 1,493 1,476 1,387 1,434 Groundnut oil$/mt1,408 1,468 1,501 1,421 1,415 1,715 2,038 1,907 1,923 1,904 1,885 1,783 1,856 Palm oil$/mt678 782 771 627 605 759 1,094 1,051 1,009 995 981 910 928 Soybean meal$/mt398 398 360 398 349 398 482 479 457 454 451 436 464 Soybean oil$/mt772 867 874 775 769 846 1,367 1,394 1,298 1,288 1,277 1,220 1,282 Soybeans$/mt401 431 404 388 371 411 577 572 529 524 519 493 515 GrainsBarley$/mt124111100124129931191151 11110110109118 Maize$/mt1731691591621711672492202262242 22210219 Rice, Thailand, 5%$/mt3944214104134205024523913943953963 97439 Wheat, US, HRW$/mt209177179206203213254244236233231 219228 Other FoodBananas, US$ Meat, beef$ Meat.

6 Chicken$ Oranges$ Shrimp$ Sugar, World $ Raw MaterialsTimberLogs, Africa$/cum39741240640639440441341140439 9394369380 Logs, Asia$/cum2512922732652752822732742742722 71262278 Sawnwood, Asia$/cum8517867217157007077517437357317 26698738 Other Raw MaterialsCotton A Index$ Rubber, RSS3$ Tobacco$/mt5,016 5,094 4,755 4,781 4,603 4,381 4,176 4,132 4,109 4,055 3,999 3,715 3,796 FertilizersDAP$/mt4263363323873083165875 87433378325335380 Phosphate rock$/mt12311792868877119127106949597110 Potassium chloride$/mt3032772242122572202093182642 62259244253 TSP$/mt386309291341296268522509385340297 302337 Urea, E.

7 Europe$/mt284206220245247231378367288260 259256278 Metals and MineralsAluminum $/mt1,701 1,706 2,022 2,072 1,804 1,721 2,536 2,640 2,403 2,267 2,234 2,070 2,109 Copper$/mt5,631 5,177 6,340 6,416 6,042 6,237 9,247 8,606 7,882 7,083 6,997 6,553 6,748 Iron ore$ $/mt1,827 1,985 2,378 2,201 2,007 1,844 2,188 2,054 1,923 1,897 1,870 1,736 1,771 Nickel$/mt12,122 10,204 10,696 12,885 13,987 13,928 18,395 17,358 16,341 16,132 15,919 14,825 15,182 Tin$/mt16,418 19,072 20,613 19,793 18,759 17,299 31,073 30,316 28,357 26,444 25,704 22,201 21,086 Zinc$/mt1,974 2,223 2,970 2,871 2,564 2,290 2,933 2,760 2,307 2,274 2,241 2,073 2,109 Precious MetalsGold$/toz1,186 1,328 1,292 1,247 1,400 1,788 1,785 1,711 1,663 1,623 1,584 1,394 1,350 Silver$ Platinum$/toz1,076 1,050 975 864 869 892 1,094 978 976 975 975 967 1,054 Next update: April 2022 Forecasts- 2 - World Bank Commodities Price IndicesReleased.

8 October 21, 2021201520162017201820192020202120222023 2024202520302035 Price indices in nominal US dollars (2010=100) Non-energy Oils and Other Raw Other Raw

9 Metals and minerals Base Metals Precious Price indices in real 2010 US dollars (2010=100) Non-energy Oils and Other Raw Other Raw

10 Metals and minerals Base Metals Precious Inflation indices, 2010=100 d/MUV index % change per annum( ) ( ) ( ) ( ) US GDP % change per Next update: April 2022 ForecastsNotes: a/ Base metals plus iron oreb/ Includes aluminum, copper, lead, nickel, tin and zincc/ Real Price indices are computed from unrounded data and deflated by the MUV Inflation indices for 2013-2025 are projectionse/ Unit value index of manufacture exports (MUV) in US dollar terms for fifteen countries (Brazil, Canada, China, Germany, France, India, Italy, Japan, Mexico, Republic of Korea, South Africa, Spain, Thailand, United Kingdom, and United States).