Commodity prices dip in year since Russia's Ukraine invasion

Prices down from prewar level for 14 of 19 items in widely tracked index

The U.S. imported far less Russian crude oil in 2022, with shipments down 90%. China's imports of Russian crude, by contrast, rose 30%, while India's surged seventeenfold over the same period. © Reuters

YOSUKE KAWAJI and MISA HAMA, Nikkei staff writers

February 21, 2023 13:27 JST

TOKYO -- Ahead of the anniversary of Russia's invasion of Ukraine, prices for many commodities that jumped due to the conflict have started declining. This is largely due easing concerns about the availability of Russian exports as alternative supplies come onstream.

Nikkei on Friday examined prices for the 19 commodities in the Refinitiv/CoreCommodity CRB Index, comparing them with those of Feb. 23, 2022, and found that prices for 14 items had fallen compared with the day before the invasion.