World Bank Data Shows Mixed Commodity Price Movements in July
August 21, 2026
Global commodity markets recorded sharply different price movements in July, with beverage prices posting a strong increase while precious metals, fertilizers and other major commodity groups declined, according to the latest World Bank data.
The World Bank’s commodity price update shows that its energy index fell by about 1.1% in July compared with June, while the broader non-energy index was almost unchanged. The figures highlight how different parts of the global commodity market responded differently during the month.
Beverages Record the Biggest Increase
Among the categories shown in the World Bank data, beverage prices registered the strongest monthly rise, increasing 17.44% from June to July.
Agricultural commodities overall also moved higher, rising 2.6% during the month. The increase came despite weaker prices for food and fertilizers, as the sharp rise in beverages more than offset those declines.
The movement demonstrates how individual agricultural commodities can behave very differently even when the broader agricultural index is moving in one direction.
Fertilizer Prices Decline
Fertilizer prices dropped by approximately 4.35% between June and July, according to the data presented in the World Bank chart.
The decline came alongside a 0.33% decrease in food prices and a 0.49% fall in raw-material prices. These movements helped offset the substantial increase recorded in beverages.
Changes in fertilizer prices are particularly important for agricultural economies because fertilizer costs can influence farmers’ production expenses and, ultimately, food prices.
Metals and Precious Metals Move Lower
The metals and minerals category recorded a 2.85% decline in July, while precious metals fell by 5.22%, making precious metals one of the weakest major groups in the monthly comparison.
The World Bank said the broader metals decline was led by weaker aluminum prices, which fell 8.1%, while lead and nickel each dropped 5.3%. Within precious metals, silver declined 11.8% and platinum fell 6%.
Energy Prices Also Weaken
Energy prices decreased by 1.14% in the monthly comparison shown in the World Bank data.
According to the World Bank’s latest commodity update, the energy decline was driven by a 4.8% fall in coal prices and a 2.2% decline in crude oil prices. These decreases were partly offset by a sharp 19.1% increase in European natural gas prices.
What the Data Means for Global Markets
The contrasting movements underline the complexity of the international commodity market. While some products became considerably more expensive during July, others experienced substantial declines.
For consumers, businesses and governments, commodity prices can influence transportation costs, agricultural production, manufacturing expenses and inflation. However, changes in individual commodities do not automatically translate into similar movements in overall consumer prices.
The World Bank’s Pink Sheet provides a monthly snapshot of these international commodity movements and is used to track developments across energy, agriculture, metals and other major commodity groups.
The July figures therefore offer a mixed picture: agricultural commodities gained overall, led by beverages, while energy, metals, fertilizers and precious metals recorded declines. The differing trends will remain important for countries and industries exposed to international commodity markets.
