Developments in the World Commodity Markets During the Second Quarter of 1986

Authors

Central Bank of Nigeria CBN, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Commodity Market, Developments, World Commodity Market, Nigeria

Abstract

All the items, except rubber and ginger, recorded price declines ranging from 0.6 per cent for coffee to 34.1 per cent for palm kernel. The prices of rubber and ginger increased by 4.3 and I. 7 per cent, respectively. The major factor responsible for the deterioration was the effect of failure to reach positive agreement on most of the international commodity organisations, particularly in respect of cocoa. Other factors which helped to depress the market included the sharp decline in oil prices which reduced the purchasing power of affected countries, appreciable gains by the pound sterling over the US dollar and the excess supply situation in most of the commodities.

Author Bio

The authors are staff of the Agricultural Studies Office, Sectoral Studies Division, Research Department of the Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review

Issue

2

Volume

24

Recommended Citation

Central Bank of Nigeria (1986). Developments in the World Commodity Markets During the Second Quarter of 1986. CBN Economic and Financial Review. 24(2), 4-6.