Outside markets

Several factors impact on international commodity markets, including energy prices, the cost of fertilizer, and the dollar exchange rate. High energy prices, in particular, have been identified as one of the main causes of the agricultural price spike of 2008/09. The cost of fertilizer affects the agricultural production process and thus the price of commodities. And the dollar exchange rate defines a country's terms of trade.

About AMIS indicators

AMIS promotes a better understanding of developments in global food markets. A central task in this regard is to monitor market and policy drivers that impact on global food prices and their volatility.

Outside markets

Ocean freight rates

International trade of food commodities has increased fivefold over the past 50 years. In 2020, the share of global production going to exports amounted to around 45% for soybeans, 25% for wheat, 15% for maize and 10% for rice. The cost of shipping bulk commodities has thus an important impact on the final price paid by consumers.

Chart description

Chart description

The Baltic Dry Index provides an assessment of the freight rates for shipping bulk commodities by sea. It includes Supramax, Panamax, and Capesize vessels, of which Panamax vessels are the most relevant for grains transportation. With a carrying capacity of 60,000-80,000 tonnes, they are able to pass through the Panama Canal, which provides transit for about half of the United States grains exports. For more information, click here.