Commodity Markets Outlook 2025

This World Bank Group report provides an outlook on global commodity markets in October 2025. It analyzes recent price movements, market conditions, and forecasts for major commodity groups, including energy, agriculture, fertilizers, metals and minerals, and precious metals. The report explains that global commodity prices are expected to decline in 2025 and 2026, mainly because of weaker global demand, trade policy uncertainty, and excess oil supply. It also discusses key risks such as geopolitical tensions, oil sanctions, trade restrictions, unfavorable weather, and rising demand from data centers. The report is useful for studying commodity prices, inflation, energy markets, food prices, fertilizer costs, metals demand, and global economic conditions.