Analyst James Fry has revealed that he expects the price for palm oil to hit almost $2,000.00 per ton during the upcoming months.
Reuters revealed on Monday that the Russian billionaire and fertilizer and coal king Andrei Melnichenko stated that the world is about to experience a food crisis.
This week, the US Dollar hit a five year high level against the Japanese Yen, as the Bank of Japan appears to be lagging in monetary tightening, compared to the US Federal Reserve.
On Monday, Deutsche Bank announced that the company would leave the Russian markets, as the bank's CEO retraced back its previous statements due to investor pressure.
At the start of this week, crude oil prices declined, as the markets were expecting the US Federal Reserve rate hikes that were set for Wednesday.
Energy executives, who gathered at the CERAWeek energy conference this week, have revealed that they expect a reduction of demand to cause a decrease of energy prices.
This week, Uber stated that the Spanish rules that were introduced to force couriers to register as employees has led to a shortage of labour.
Google revealed this week that it would increase its cloud security with a $5.4 billion deal with Mandiant.
The Bank of England announced this week that the Russian sanction effect on UK finances would be manageable.
This week, the German government announced that it would not expand the life-span of its three remaining nuclear power plants. Instead, the country would create a new LNG terminal in 2024.
Reuters revealed this week that the US government would consider easing sanctions on Venezuelan oil exports to the United States.
At 12:45 GMT, the European Central Bank published its future monetary policy. Due to the revealed monetary tightening, the value of the Euro spiked. The EUR/USD reacted with a jump of more than 70 base points or 0.65% in less than three minutes.
UniCredit revealed this week that the bank would incur a loss of up to $8 billion due to writing off its business in Russia.
The Ukrainian government announced on Wednesday that it is banning the exports of various grains, sugar, meat and salt until the end of the year. The announcement caused a surge of these commodity prices.
This week, the European Union officials agreed upon setting up new sanctions on Russia over the invasion of Ukraine.
Danone announced on Tuesday that the company had increased investment in its brands to increase sales growth by up to 5.00%.
This week, the Norwegian sovereign wealth fund revealed that it had put Bombardier, Adani Ports and Hyundai Glovis on a watch list due to ethical concerns.
During Wednesday's trading hours, the common European currency, the Euro, surged against other assets, as the markets awaited the European Central Bank events scheduled for Thursday.
Adidas announced this week that the company would replace the company's chief in China in an effort to improve sales in the region.
On Wednesday, cryptocurrencies spiked in value, as a statement by the US Treasury Secretary Janet Yellen revealed that the US might not ban cryptocurrencies, but regulate them.
On Tuesday, Shell announced that it the company would stop purchases of Russian crude oil and cancel its involvement in the country.
This week a member of the Russian ruling party proposed the nationalization of foreign owned factories that are shutting down operations due to the ongoing war in Ukraine.
On Monday, the Swiss National Bank announced that it would intervene into the currency markets to keep the value of the Swiss Franc down. The currency has experienced recent safe haven inflows due to the war in Ukraine.
Results of a Reuters investor survey revealed this week that investor morale in the Euro Zone had plummeted from 16.6 to -7.0 points.