Commodity Digest - Q2 2024

Quarterly insights on commodity price movements and market dynamics

Key highlights

Key challenges, such as geopolitical unrest, economic uncertainty, and extreme volatile weather conditions, played a decisive role in shaping commodity prices in Q1 2024 and will continue to play a dominant role in Q2 2024 as well. 

In addition, global economic growth is expected to be slower than in 2023. This is due to headwinds from high interest rates, sluggish global trade, and heightened geopolitical tensions. On the other hand, global inflation is expected to decrease, driven by the improvements in supply-demand balances and the lingering effects of a hawkish stance by central banks in major economies in 2023.  

In this edition of Commodity Digest, we highlight the specific measures Commodity Managers should consider to mitigate risks associated with these challenges. These steps include assessing the impact of various factors on their spend portfolio, monitoring wider financial, economic and business indicators, and identifying early signals of distress to ensure business continuity. 

Commodities covered:  

  • Energy  
  • Packaging   
  • Base metals and steel   
  • Precious metals  
  • Grains and softs   
  • Vegetable oils   
  • Dairy and eggs   
  • Livestock  

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