The Strategist

China notes record values of world commodity prices

04/18/2022 - 10:28

China believes geopolitical conflicts have driven up prices of key commodities.

Fu Linghui of China's State Statistics Office said on Monday that geopolitical conflicts, as well as the resulting sanctions and counter-sanctions, have led to record fluctuations in the prices of major commodities on the world market.

"Since the beginning of this year, the international environment has undergone many changes, and the world prices of exchange commodities have reached new record highs. In the next phase, there is a high probability that the world prices of exchange commodities will fluctuate at a high level," said the representative of the department.

Linghui added that as the world economy recovers, demand for commodities will rise again. But the imbalance between supply and demand, as well as the imposed economic restrictions will have a negative impact on the efficiency of global supply chains.