French commodity research specialist Cyclope in a report published this week argues that "in the coming months, global markets will feel even the slightest sneeze from
World commodity prices have surged in recent years, driven by rising demand from increasingly affluent shoppers in emerging markets and particularly
It is also close to overtaking
Its influence on global commodity markets has become even more important in the wake of the global economic crisis, which has hampered growth in the developed world.
Even sales of top French spirits are being driven by Chinese demand, said
But growth in the Chinese economy, the world's second-biggest after
The slowdown in
On average, raw material prices fell by 5.0 per cent in 2013, the report said. In 2014, Cyclope predicts that prices will fall even further, by an average of 4.0 per cent, despite support from an expected uptick in global growth.
Nonetheless, "the current slowdown and future activity should not cause major adjustments," reads the report.
"The slow transformation of the growth model and the further development, instead, point to a higher Chinese demand for raw materials."
A giant appetite
If this appetite for foreign beef continues, "The global market for beef will turned upside down," the report says.
Similarly, several scandals involving tainted milk and a growing appetite for Western diets have also turned
In recent months several agricultural commodities of which
Coffee and cocoa are the only agricultural commodities which have been little affected by
Most Popular Stories
- Pandora Tumbles in Late Trading
- Stop-Start Engines Save Gas, Reduce Emissions
- Sporty Ford Fiesta Fires on All 3 Cylinders
- World Tensions Don't Curb Enthusiasm for Stocks
- Ohio State Band Chief Fired After Probe
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Visa, Amazon Results Drag Down the Street
- U.K. Economy Surpasses Pre-Crisis Peak
- Russia Fears Lasting Damage From Ukraine Crisis
- Hispanic Leader Goes the Extra Mile