The OECD holds a roundtable on competition and commodity price volatility

Executive summary, by the Secretariat Considering the background papers, discussion by delegates and expert panellists at the Global Forum and countries’ written submissions, several key points emerge: (1) Primary commodity prices are inherently volatile and the current and recent episode is not historically unusual. All commodity prices - agricultural and mineral - exhibit outbreaks of volatility, during which prices spike up, for example in the 1970s and late 1990s. Supply and demand are both inelastic in the short term, so mis-matches can result in large price movements. In real terms, price spikes in the early 1970s were considerably higher than in the current episode. Worldwide high and volatile prices reflect global forces of supply and demand that are only slightly

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  • OECD - Competition Division (Paris)

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OECD, The OECD holds a roundtable on competition and commodity price volatility, 1 February 2012, e-Competitions February 2012, Art. N° 85613

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