Almost all commodities have risen in price in 2021

Analytical companies point out that this year there has been an increase in prices for almost all commodities. The only exception was gold. Its rate has declined even despite the high percentage of inflation. A significant increase in prices took place in the oil and gas markets. The increase in oil prices is due to lacking supply. Oil producers have come under constraint from government plans to commute economies to clean energy sources. If at the beginning of the year the Brent oil barrel price was at around $56, then it rose to $87. Gas prices in the European region have risen sharply more than 7 times. Coffee prices almost doubled in 2021 due to nasty weather in Brazil. For the same reason, there was a boost in sugar prices. Wheat has increased in price by more than 30% due to drought in the Russian Federation, the United States, and Canada. Timber prices have renewed their all-time highs this year. In January, the rate for a thousand board feet was $878. Over the course of the year, the price climbed to $1,600.

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Arseny Kudrin

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