Prices Of Precious Metals Dropped 0.6%, Fertilize Up By 96.7%

By Soko Directory Team / Published April 4, 2022 | 8:51 am




KEY POINTS

Advanced Economies are projected to expand by 3.9 percent while Developing and Emerging Markets are projected to expand by 4.8 percent in 2022.




KEY TAKEAWAYS


Fertilizer prices recorded the highest increase, gaining 96.7 percent in Q1’2022, mainly attributable to a mismatch between demand and supply arising from supply chain constraints.


Global commodity prices registered mixed performance in Q1’2022, with prices of precious metals declining by 0.6 percent largely driven by reduced demand for safe-haven assets in Q1’2022, as compared to a similar period last year.

Fertilizer prices recorded the highest increase, gaining 96.7 percent in Q1’2022, mainly attributable to a mismatch between demand and supply arising from supply chain constraints.

This was a result of the Russian government’s decision to halt fertilizer exports in a retaliatory move following sanctions for their role in the Russia – Ukraine conflict. Key to note, Russia is the single largest producer of fertilizers.

Read More: Tomatoes Fetch a Fortune in Nairobi with a Crate Selling at Kshs.8,500

Here is the World Bank Commodity Price Index:

In Kenya, the prices of fertilizers had risen beyond manageable levels. A bag had hit 7,400 shillings from 2,400 shillings and there were fears that the farmers will not be able to plant this season. With delays in the rains, the harvests this year might be terrible.

The government has already announced that it will release funds for the subsidy of the fertilizer though farmers feel it is an initiative that has come too late. They also feel cartels will hide the fertilizer as a result in order to influence the prices.

Read More: Here Is A List Of Commodities Whose Prices Have Increased

At the same time, the world economy is projected to register slower growth in 2022 than earlier envisaged, with the International Monetary Fund (IMF) projecting a 4.4 percent growth in 2022 down from the initial projection of a 4.9 percent growth.

The downward revision was mainly attributable to the continued presence and effects of the Omicron COVID-19 variant coupled with supply chain disruptions that continued to hinder global manufacturing growth.

Advanced Economies are projected to expand by 3.9 percent while Developing and Emerging Markets are projected to expand by 4.8 percent in 2022.




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team


More Articles From This Author








Trending Stories










Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE



ARCHIVES

2022
  • January 2022 (294)
  • February 2022 (329)
  • March 2022 (361)
  • April 2022 (294)
  • May 2022 (176)
  • 2021
  • January 2021 (182)
  • February 2021 (227)
  • March 2021 (325)
  • April 2021 (259)
  • May 2021 (285)
  • June 2021 (273)
  • July 2021 (277)
  • August 2021 (232)
  • September 2021 (271)
  • October 2021 (305)
  • November 2021 (364)
  • December 2021 (250)
  • 2020
  • January 2020 (272)
  • February 2020 (310)
  • March 2020 (390)
  • April 2020 (321)
  • May 2020 (335)
  • June 2020 (327)
  • July 2020 (333)
  • August 2020 (276)
  • September 2020 (214)
  • October 2020 (233)
  • November 2020 (242)
  • December 2020 (187)
  • 2019
  • January 2019 (251)
  • February 2019 (215)
  • March 2019 (283)
  • April 2019 (254)
  • May 2019 (269)
  • June 2019 (250)
  • July 2019 (337)
  • August 2019 (293)
  • September 2019 (306)
  • October 2019 (313)
  • November 2019 (362)
  • December 2019 (318)
  • 2018
  • January 2018 (291)
  • February 2018 (213)
  • March 2018 (275)
  • April 2018 (223)
  • May 2018 (235)
  • June 2018 (176)
  • July 2018 (256)
  • August 2018 (247)
  • September 2018 (255)
  • October 2018 (282)
  • November 2018 (282)
  • December 2018 (184)
  • 2017
  • January 2017 (183)
  • February 2017 (194)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (205)
  • July 2017 (190)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (164)
  • February 2016 (165)
  • March 2016 (189)
  • April 2016 (143)
  • May 2016 (245)
  • June 2016 (182)
  • July 2016 (271)
  • August 2016 (247)
  • September 2016 (233)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (164)
  • April 2015 (107)
  • May 2015 (116)
  • June 2015 (119)
  • July 2015 (145)
  • August 2015 (157)
  • September 2015 (186)
  • October 2015 (169)
  • November 2015 (173)
  • December 2015 (205)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950