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Independent.ie

Thursday 23 February 2017

Commodity prices yet to hit rock bottom

International commodity prices haven't hit the bottom yet, according to Citigroup's head of commodity research, Ed Morse.

International commodity prices haven't hit the bottom yet, according to Citigroup's head of commodity research, Ed Morse.

While green grain prices struggled to break €140/t here this year, Mr Morse believes lower international prices could still be in the pipeline due to the economic slump in China.

China is the world's biggest consumer of grains, but its growth is at the lowest level in two decades, leading to one of the worst slumps in commodity prices in a generation, with the Bloomberg Commodity Index posting its worst quarterly loss in the last week since the recession started.

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