Many Canadians are wondering why food prices are not dropping at the same rate as agricultural commodity prices. Last year, Russia’s invasion of Ukraine pushed prices to astronomical levels. One year later, the agricultural commodity landscape looks incredibly different. Prices for agricultural commodities have dropped significantly in the last 12 months. Wheat prices have fallen…

New Zealand’s nationwide ban on battery caged hens has created an egg shortage, pushing up prices for eggs and the foods requiring it, such as breakfast staples and desserts. Battery cages are small, wire cages used to house egg-laying hens. Each cage is about 40 centimetres (16 inches) and contains four to seven hens. In…

Australia’s budget deficit will see a “remarkable recovery” this year on the back of soaring coal and natural gas prices, according to economist Chris Richardson. In September, Treasury said higher commodity prices improved the federal budget’s bottom line for the 2021-22 financial year by $50 billion (US$75 billion) from higher commodity prices, but warned that…

Copper prices fell below $7,000 per ton during July 15 trading at the London Metal Exchange for the first time since November 2020, worsening concerns about a looming global recession. The price decline was triggered by fresh data from China which showed the country’s economic growth slowed down in the second quarter, registering only a…