ISLAMABAD:The prices of food and other essential commodities, including petroleum products, have increased in international market due to the globalization of Covid-19, said Charlie Billelo Chief Executive Officer (CEO) of Compound Capital Advisors, in his tweet regarding the price trends of various commodity in the international market over the past one year.
He said that last year the price of natural gas in the international market increased by 87% and the price of heating oil by 82%.
Similarly, the price of petrol has gone up by more than 80 per cent.
West Texas Intermediate (WTI) also witnessed an increase of 69 percent in crude oil prices whereas Brent rose by 60 percent.
He said that during the last year, food prices have also increased significantly, with sugar prices rising by 58 per cent, coffee prices by 47 per cent, wheat prices by 28 per cent and soybeans by 33 per cent.
The prices of cotton rose by 42%, coffee by 47% and maize by 46%.
According to the firm Compound Capital Advisor, the prices of metallic minerals have also increased during last year.
During the period under review, the price of copper has increased by 42%, platinum by 10% and palladium by 6%.
However, the gold prices fell 7%, silver prices by 13% and lumber prices fell 18 percent.