{
  "title": "The Behavior of Non-Oil Commodity Prices",
  "publication": "Occasional Papers, September 15, 1994",
  "sourceUrl": "https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367",
  "canonical": "https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367",
  "overlayPath": "/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367/index.md",
  "summary": "This paper analyzes global commodity trends and concludes that the marked decline in real commodity prices of the past decade should be regarded as largely permanent and irreversible.",
  "sections": [
    {
      "heading": "Summary and central conclusion",
      "content": "- The paper analyzes global commodity trends and concludes that \"the marked decline in real commodity prices of the past decade should be regarded as largely permanent and irreversible.\"\n- The authors argue that analysis of commodity prices should be extended to include the role of \"the breakdown of major international commodity agreements.\"\n- The paper also analyzes \"how developments in the former Soviet Union have affected commodity supply conditions.\""
    },
    {
      "heading": "Major findings",
      "content": "- Decline in real commodity prices over the past decade characterized as \"largely permanent and irreversible.\"\n- Breakdown of major international commodity agreements is identified as a significant factor affecting commodity price behavior.\n- Developments in the former Soviet Union have had measurable effects on commodity supply conditions."
    },
    {
      "heading": "Thematic scope and subjects",
      "content": "- Subject headings: Agricultural commodities, Commodities, Commodity price fluctuations, Commodity price shocks, Commodity prices, Export earnings, International trade, Prices\n- Keywords (as provided): Africa, Agricultural commodities, Asia and Pacific, Caribbean, commodity, commodity grouping, Commodity price fluctuations, Commodity price shocks, Commodity prices, commodity-producing country, country grouping, developed market economies, drive commodity market, Eastern Europe, Export earnings, federal republic, market economies, OP, price shock, price volatility, production yearbook, Taiwan prov.\n\n---\n\n\nSource: https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367/index.md)",
    "[Structured JSON version](/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367/index.json)",
    "[Bundle manifest](/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367/bundle-manifest.json)",
    "Authors: Eduardo Borensztein, Peter Wickham, Mohsin S. Khan, Carmen Reinhart",
    "Published: September 15, 1994",
    "Series: Occasional Papers",
    "DOI: https://doi.org/10.5089/9781557754127.084",
    "The paper analyzes global commodity trends and concludes that \"the marked decline in real commodity prices of the past decade should be regarded as largely permanent and irreversible.\"",
    "The authors argue that analysis of commodity prices should be extended to include the role of \"the breakdown of major international commodity agreements.\"",
    "The paper also analyzes \"how developments in the former Soviet Union have affected commodity supply conditions.\"",
    "Decline in real commodity prices over the past decade characterized as \"largely permanent and irreversible.\"",
    "Breakdown of major international commodity agreements is identified as a significant factor affecting commodity price behavior.",
    "Developments in the former Soviet Union have had measurable effects on commodity supply conditions.",
    "Subject headings: Agricultural commodities, Commodities, Commodity price fluctuations, Commodity price shocks, Commodity prices, Export earnings, International trade, Prices",
    "Keywords (as provided): Africa, Agricultural commodities, Asia and Pacific, Caribbean, commodity, commodity grouping, Commodity price fluctuations, Commodity price shocks, Commodity prices, commodity-producing country, country grouping, developed market economies, drive commodity market, Eastern Europe, Export earnings, federal republic, market economies, OP, price shock, price volatility, production yearbook, Taiwan prov."
  ],
  "alternates": {
    "markdown": "/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367/index.md",
    "json": "/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367/index.json",
    "bundleManifest": "/en/publications/occasional-papers/issues/2016/12/30/the-behavior-of-non-oil-commodity-prices-367/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-19T04:47:24.331Z"
}