Investment growth down 1,6 percent: WB
COMMODITY exporting emerging and developing economies have been hit hard by slowing investment growth, which has declined from 7,1 percent in 2010 to 1,6 percent in 2015.
In its January 2017 Commodity Markets Outlook, the World Bank is holding steady its crude oil price forecast for the year at $55 per barrel, a 29 percent jump from last year.
The World Bank Commodity Markets Outlook is published quarterly, in January, April, July and October.
The report provides detailed market analysis for major commodity groups, including energy, metals, agriculture, precious metals and fertilisers.
The recent edition extends price forecasts to 2030 for 46 commodities and provides historical price data.
The bank said agriculture prices as a whole are expected to rise by less than 1 percent this year, while small increases are anticipated for oils and oil seeds as well as raw materials, but prices for grains are forecast to drop almost 3 percent on an improved supply outlook.
Prices of precious metals are seen declining 7 percent as benchmark interest rates rise and safe-haven buying slows.
The World Bank is forecasting strong gains for industrial commodities such as energy and metals this year, due to tightening supply and strengthening demand.
“Investment weakness – both public and private – hinders a range of activity in commodity-exporting emerging market and developing economies,” WB development prospects group director Ayhan Kose said. - New Ziana.