The dollar exchange rate appreciation, and the prospects for a global economic recovery with the COVID-19 vaccination campaigns tend to maintain prices of agricultural, mineral, energy and environmental commodities at a high level in the coming months. Average commodity prices in 2021 may be well above those observed in 2020, said the analyst of Banco Inter. “The prospects for global economic recovery turned out to be higher than previously expected. Recent economic indicators in the two main world economies, the USA and China, have surprised the market and boosted demand for inputs. China is expected to grow by 8% this year, while the USA is forecast to grow by 6.5% as the country advances in its vaccination schedule”. “We remain optimistic about commodities prices, even though we fear corrections can be made in the second half of the year, stopping the upward trend. We believe in price stability; however, we should see higher average prices in 2021 compared to 2020”, explains the analysts.
Sources: Valor / Portos e Navios (*Translated by Ia Niani)