Global commodities buyers to pay $5.2tln more in 2022 as price rise bites

Follow-ups -eshrag News:

Mon, 2022-06-13 17:49

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.

Main category: 
Business & Economy

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