dc.contributor.author	World Bank Group
dc.date.accessioned	2022-03-28T16:31:29Z
dc.date.available	2022-03-28T16:31:29Z
dc.date.issued	2022-04-26
dc.description.abstract	The war in Ukraine has caused major supply disruptions and led to historically higher prices for a number of commodities. Most commodity prices are now expected to see sharp increases in 2022 and remain high in the medium term. The price of Brent crude oil is projected to average $100/bbl in 2022, a 40 percent increase from 2021. Non-energy prices are expected to rise by about 20 percent in 2022, with the largest increases in commodities where Russia or Ukraine are key exporters. Wheat prices in particular are forecast to increase more than 40 percent this year. While price pressures are expected to ease in 2023, commodity prices will remain much higher than previously expected. The outlook depends on the duration of the war and the severity of disruptions to commodity flows. A Special Focus section investigates the impact of the war on commodity markets and compares the current episode with previous price spikes. It finds that previous oil price spikes led to the emergence of new sources of supplies and reduced demand in response to efficiency improvements and substitution to other commodities. In the case of food, new land was made available for food production. For policymakers, a short-term priority is providing targeted support to poorer households facing higher food and energy prices. For longer-lasting solutions, they facilitate investment in new sources of zero-carbon energy.	en
dc.identifier.doi	10.1596/37223
dc.identifier.uri	https://hdl.handle.net/10986/37223
dc.publisher	Washington, DC: World Bank
dc.relation.ispartofseries	Commodity Market Outlook;
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	OIL AND GAS
dc.subject	FOOD
dc.subject	COVID-19
dc.subject	COMMODITY PRICE FLUCTUATION
dc.subject	INFLATION EXPECTATION
dc.subject	ARMED CONFLICT
dc.subject	WAR
dc.title	Commodity Markets Outlook, April 2022	en
dc.title.subtitle	The Impact of the War in Ukraine on Commodity Markets	en
dc.type	Serial	en
dc.type	Sériel	fr
dc.type	Serial	es
dspace.entity.type	Publication
okr.crossref.title	Commodity Markets Outlook, April 2022: The Impact of the War in Ukraine on Commodity Markets
okr.date.disclosure	2022-04-26
okr.date.doiregistration	2025-04-15T11:36:12.361901Z
okr.date.doiregistration	2025-05-13T02:22:21.741119Z
okr.doctype	Publications & Research
okr.guid	099610004272227936
okr.guid	099613504272249218
okr.guid	099606104272239809
okr.identifier.externaldocumentum	IDU-953d8f34-aba1-4402-ad08-242e415e1a08
okr.language.supported	en
okr.region.geographical	World
okr.topic	Agriculture::Commodity Risk Management
okr.topic	Macroeconomics and Economic Growth::Inflation
okr.topic	Energy::Oil & Gas
okr.topic	Agriculture::Food Markets
okr.topic	Energy::Energy Markets
okr.unit	EFI - Prospects Group (EPGDR)

Publication: Commodity Markets Outlook, April 2022: The Impact of the War in Ukraine on Commodity Markets

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Commodity Markets Outlook, April 2022: The Impact of the War in Ukraine on Commodity Markets