Asian financial crisis cuts commodity prices
THE Asian financial crisis has taken its toll on commodity prices in Pakistan.
They dropped 11% in the second half of last year, stabilised, and then started to fall again in May. Agricultural commodity prices have fallen 25% from their 1995 highs.
World consumption of rice, natural rubber and vegetable oils from Asian developing countries has also been reduced as currency depreciation in Asia has encouraged producers in the region to export more from existing stockpiles and step up production.
- Financial Times 02/07/98 page 25