4 factors that reduced the global price of basic goods today

According to the report of the International Economic Group of Fars News Agency, citing Anatoly, the prices of all kinds of global goods fell sharply today due to the market’s prediction of the global economic recession and the decrease in demand, so that the price of cotton dropped by 4.2%, coffee by 2.9%, and sugar by 0.5%. decreased, the price of wheat decreased by 5.75 dollars, the price of corn decreased by 6.25 dollars, and the price of soybean oilseeds decreased by 7.5 dollars.

Turkey’s Anatolia News Agency announced: Concerns about the economic situation last week caused the price of basic goods to drop sharply today.

Last week, with this prediction of the world economy, many owners of basic goods turned to selling.

The debt ceiling crisis in the United States, concern about the recession in the world economy, and the lack of clarity in the decisions of the American Federal Reserve regarding financial policies and the increase in demand for greenbacks are among the factors that have caused the price of basic commodities to decrease in the world.

In the meantime, there is less than a month left for the US Congress to announce the debt ceiling of 31.4 trillion dollars to prevent default.

Julie Kozhakryal, director of communications at the International Monetary Fund, said: “There will be very serious consequences not only for the United States, but for the global economy.”

US President Joe Biden and US Treasury Secretary Janet Yellen have asked Congress to take immediate action to raise the debt ceiling in this country in order to escape India’s default.

Janet Yellen warned that if a default occurs, it will be a wake-up call for the global economy.

Failure to pay interest or debt principal (borrowing) within the stipulated time is called default. This default occurs when the debtor is unable to fulfill the legal obligation to repay the debt. The borrower may default when he is unable to make the necessary payments or is unwilling to pay the debt.

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