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RIYADH: Global buyers of commodities are expected to pay $5.2 trillion more to producers in 2022 compared to 2019 as surging prices further dent the sector, Bloomberg reported citing a new base case analysis from Citigroup Inc.
The analysis pegs this rise as equivalent to 5 percent of the world’s gross domestic product.
The report warns that if the price rise trend continues in the second half of this year, buyers would be paying $6.3 trillion more than what they paid during 2019, or 6.2 percent of GDP.
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