At the beginning of the year, grains such as wheat, corn, and rice showed a downward trend; however, the global increase in fertilizer prices has reversed that dynamic. In Mexico, products such as tomatoes, green tomatoes, and lemons have registered increases, which has directly impacted inflation. “Agricultural prices and air freight, driven by the rise in fuels, brought inflation to 4.63% annually, above what was estimated by the Bank of Mexico,” stated Norman Hagemeister Rey. Metals: a refuge in times of uncertainty. Despite the volatility, some commodities maintain an upward trend. This is the case for precious metals such as gold and silver, driven by demand as safe-haven assets. “Geopolitical uncertainty and the purchases of central banks will continue to push these metals higher.” However, the scenario has changed drastically, and currently, it exceeds 102 dollars. This rebound has caused several commodities to increase in value, contrary to what was predicted at the beginning of the year. “Although the conflict does not directly impact the fuel that Mexico imports, it does affect it through international price increases, especially in gasoline and diesel from the United States,” detailed the specialist. Food and inflation, under pressure. The effect has also extended to agricultural products. The prices of raw materials are going through a moment of high global volatility, with mixed movements that respond, to a large extent, to geopolitical tensions in the Middle East, explained financial innovation specialist Norman Hagemeister Rey. Before the conflict between the United States, Israel, and Iran, the World Bank Group's 'Commodity Markets Outlook' report projected a fall in Brent oil prices, from 68 to 60 dollars per barrel. “Gold could rise an additional 5%,” he affirmed. To this is added the growth of artificial intelligence and the expansion of data centers, factors that could increase the demand for strategic metals such as aluminum and copper, essential for the technology industry.
