Commodity markets turn bearish as prices fall

The prices of almost all commodities in international markets are down since April. Metals have fallen less than agricultural commodities and oil, with some agri commodities at a multi-year low.

In this country, too, almost all commodity prices have fallen, either due to a high crop and supply or no buyers ahead of the goods and services tax (GST) or lack of confidence in outlook and low liquidity to store.

From April onwards, when the current financial year began, major agri commodities are down 10-25 per cent. Wheat has recovered a bit from a three-year low in April. Cotton is