Commodity prices soared last October. The price index for energy products, calculated by the World Bank, appreciated by 0.5% after a decline of 5.2% in September. As for the price index for non-energy products, it continued to rise for the sixth consecutive month in October (+1.5%), driven by food products (+3.3%) and base metals (+1.3%), despite a virtual stagnation in fertilizer prices (-0.3%). According to the economic note of the Directorate of Financial Forecasts Studies (DEPF), oil prices (Brent) stood at $ 40.5 per barrel on average in October, down 1.5% over one month and 39% since the beginning of 2020. This decline is linked to renewed uncertainties about global demand, in a context marked by the resurgence of Covid-19 in Europe and the United States.

In the first ten months of 2020, average Brent prices recorded $41.5, down 35% year-on-year. The oil market is largely in surplus in 2020, following a fall in demand, under the effect of the health crisis. The DEPF, which cites the International Energy Agency (IEA), says global oil demand is expected to decline by 8.8 mbd in 2020, before rebounding by 5.8 mbd in 2021.For their part, butane gas prices averaged $418 per ton in October, up 13% after a 21% rebound in September. In the first ten months of 2020, average butane prices recorded $362 per tonne, down 12% year-on-year. After peaking at $452 per tonne on October 8, butane prices fell to $418 per tonne on November 18. Crude phosphate prices reached $80 a tonne in October, up 0.8 percent month-on-month and 13 percent from their 13-year low in April. In detail, DAP prices stood at $357 per ton in October, down 0.4% month-on-month, bringing their gains to 50% from their 14-year low in December 2019.

Nulate phosphate prices reached $80 a tonne in October, up 0.8% month-on-month and 13% from their 13-year low in April.