Commodity price fluctuations, along with the globalisation of the world economy have led to profound changes that seriously affect the weaker economies of the developing world.
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Commodity Price Fluctuation by Industry Since 1985
In 1985 the price of bananas was about $350 per metric ton. The price rose slightly to about $400 per metric ton in 1986. The price of bananas in 1987 was approximately $450 per metric ton and rose again to nearly $600 in 1989. The price of bananas dipped slightly to about $590 in 1990.
Banana prices rose slightly to just over $600 per metric ton in 1991. The price of bananas dipped in 1992 to about 550 per metric ton and continued to taper off to around $500 in 1993, $475 in 1994, and $450 in 1995.
Banana prices rose in 1996 to about $475 per metric ton and again in 1997 to about $550. The price fell slightly to around $525 in 1998. The price of bananas plunged to the lowest in the last two decades in 1999 when it fell to $374 per metric ton.
The price of bananas immediately began rising to around $450 in 2000 and reached almost $600 per metric ton in 2001. The price of bananas dropped in 2002 to about $575 per metric ton and plunged again in 2003 to about $400. Banana prices rose steeply in 2004 back up to about $575 per metric ton.
Banana prices in 2005 rose back up to about $600 per metric ton and rose again in 2006 to about $700. The price of bananas fell in 2007 but remained over $650 per metric ton, then rose sharply to over $850 in 2008. Prices rose again to reach $859 in 2009.
Rice Prices (In US Dollars per Metric Ton)
The price of rice in 1985 was about $250 per metric ton. The price dipped to about $150 in 1986. Rice rose rapidly, and in 1989 the price was more than $300. The price of rice in 1987 was above $250. The price of rice in 1988 was about $300. The price of rice in 1989 rose to more than $300.
The price of rice in 1990 was about $275 per metric ton. The price rose to about $300 in 1991. Rice fell steadily in 1992 and 1993 to just over $200. The price of rice in 1994 was a little under $300. The price of rice in 1995 was about $400. The price of rice in 1996 fell to about $340. The price fell again to about $300 in 1997 and rose to about $325 for rice in 1998. In 1999 and 2000, the price of rice plunged to below $200 and fell again in 2001 to the low of $173.
Rice prices rose steadily through 2001, 2002, 2003, 2004, 2005, 2006, and 2007 until the price reached about $375. Prices skyrocketed in 2008 to a peak of $722, after which the price of rice fell to about $625 in 2009.
Soybeans Prices (In US Dollars per Metric Ton)
In 1985 soybeans sold for just under $200 per metric ton. That price fell to about $175 in 1986, and the price of soybeans rose in 1987 and 1988 to about $300. The price of soybeans fell in 1989 and ended up at about $225 in 1990.
The price of soybeans remained between about $200 and $225 for the years of 1991, 1992, 1993, 1994, and 1995. The price of soybeans rose sharply to about $300 per metric ton in 1986. Soybeans’ price fell through 1987, 1988, and 1989, then remained steady through 2000 at about $210 per metric ton.
The price of soybeans plunged to its low of $173 per metric ton in 2001, and then rose to over $250 in 2002. The price of soybeans downtrended through 2003, 2004, 2005, and 2006 back to about $200 per metric ton. In 2007 the price of soybeans skyrocketed again to almost $350 per metric ton and continued to rise in 2008 to its peak of over $450. The price of soybeans fell in 2009 to just offer $350 per metric ton.
Tea Prices in US Dollars per Metric Ton
The price of tea in 1985 was just over $150 per metric ton. The price rose then fell to its two-decade low of $160.21 in1987. Tea prices fluctuated with a slight rise until 1995 when the price was about $200. The price of tea rose significantly in 1996, 1997, 1999, and 2000 when the price of tea was about $250 per metric ton. In 1998 the price had fallen slightly but not enough to upset the uptrend at about $230 per metric ton. In 2001 the price of tea fell to about $200 per metric ton, and then had a rising trend through 2002, 2003, 2004, 2005, 2006, and 2007, when it was over $250 per metric ton. The price of tea rose sharply in 2008 and again in 2009, ending at a high of $374.41 per metric ton.
Wheat Prices in US Dollars per Metric Ton
The price of wheat in 1985 was about $125. The price of wheat hit a two-decade low in 1986 at $103.62. The price of wheat had sharp ups and downs, peaking at $326.54 in 2007 and fell again to about $200 in 2009.
Corn Prices in US Dollars per Metric Ton
Corn hit its low in 1986 at $66.14. The high price for corn occurred in 2008 at $233.91.
Olive Oil Prices in US Dollars per Metric Ton
Olive Oil was at its low in 1985 at $1963.39. The high price for olive oil occurred in 1996 at $5925.11.
Oranges Prices in US Dollars per Metric Ton
Oranges hit their low in 2000 at $364.71. The high price for oranges occurred in 2007 at $1033.48.
Peanuts Prices in US Dollars per metric Ton
Peanuts hit their low in 1987 at $580. The high price for peanuts occurred in 2008 at $1572.73.
Beef Prices in US Cents per Pound
Beef hit its low in 1998 at $0.7505. The high price for beef occurred in 2008 at $1.2940 cents per pound.
Chicken Prices in US Cents per Pound
Chicken hit its low in 1985 at about $0.38. The high price for chicken occurred in 2008 at just over $0.90 cents per pound.
Lamb Prices in US Cents per Pound
Lamb hit its low in 1986 at $0.8362. The high price for lamb occurred in 2008 at $1.70 cents per pound.
Pork Prices in US Cents per Pound
Pork hit its low in 2002 at $0.3666. The high price for pork occurred in 1987 at $1.3907 cents per pound.
Coffee Prices in US Cents per Pound
Coffee hit its low in 2001 at $0.2376. The high price for coffee occurred in 1994 at $1.8295 cents per pound.
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