World Bank Commodities Price Data (The Pink Sheet) 6-Jan-2015 Annual Averages Quarterly Averages Monthly Averages Jan-Dec Jan-Dec Jan-Dec Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Oct Nov Dec Commodity Unit 2012 2013 2014 2013 2014 2014 2014 2014 2014 2014 2014 Energy Coal, Australia $/mt a/ 96.4 84.6 70.1 82.0 77.1 72.7 67.9 62.8 63.7 62.6 62.2 Coal, Colombia $/mt 84.0 71.9 65.9 71.1 68.4 64.8 66.8 63.7 63.8 63.5 63.8 Coal, South Africa $/mt 92.9 80.2 72.3 83.0 78.4 75.0 70.2 65.8 65.7 65.7 66.1 Crude oil, average $/bbl 105.0 104.1 96.2 104.5 103.7 106.3 100.4 74.6 86.1 77.0 60.7 Crude oil, Brent $/bbl a/ 112.0 108.9 98.9 109.4 107.9 109.8 102.1 76.0 87.3 78.4 62.3 Crude oil, Dubai $/bbl a/ 108.9 105.4 96.7 106.7 104.4 106.1 101.5 74.6 86.6 76.7 60.5 Crude oil, WTI $/bbl a/ 94.2 97.9 93.1 97.4 98.7 103.1 97.5 73.2 84.4 75.8 59.3 Natural gas, Index 2010=100 99.2 112.1 111.5 111.9 127.8 115.5 102.0 100.8 103.0 101.8 97.7 Natural gas, Europe $/mmbtu a/ 11.5 11.8 10.1 11.4 11.3 10.2 9.2 9.5 9.8 8.9 9.8 Natural gas, US $/mmbtu a/ 2.8 3.7 4.4 3.9 5.2 4.6 3.9 3.8 3.8 4.1 3.4 Natural gas, LNG Japan $/mmbtu a/ 16.6 16.0 15.8 15.7 16.7 16.4 15.4 14.6 15.9 14.3 13.7 Non Energy Commodities Agriculture Beverages Cocoa $/kg b/ 2.39 2.44 3.06 2.77 2.95 3.08 3.23 2.99 3.10 2.91 2.95 Coffee, arabica $/kg b/ 4.11 3.08 4.42 2.77 3.82 4.67 4.56 4.64 4.97 4.62 4.34 Coffee, robusta $/kg b/ 2.27 2.08 2.22 1.85 2.12 2.26 2.22 2.26 2.31 2.27 2.20 Tea, average $/kg 2.90 2.86 2.72 2.82 2.65 2.80 2.80 2.64 2.65 2.65 2.62 Tea, Colombo auctions $/kg b/ 3.06 3.45 3.54 3.77 3.72 3.60 3.45 3.38 3.42 3.33 3.37 Tea, Kolkata auctions $/kg b/ 2.75 2.73 2.58 2.56 1.94 2.81 2.93 2.65 2.61 2.71 2.62 Tea, Mombasa auctions $/kg b/ 2.88 2.40 2.05 2.14 2.29 1.98 2.01 1.90 1.91 1.90 1.88 Food Oils and Meals Coconut oil $/mt b/ 1,111 941 1,280 1,175 1,343 1,387 1,204 1,184 1,144 1,194 1,215 Copra $/mt 741 627 854 791 896 923 805 792 769 795 812 Fishmeal $/mt 1,558 1,747 1,712 1,600 1,583 1,693 1,767 1,805 1,689 1,836 1,890 Groundnuts $/mt 2,175 1,378 1,297 1,370 1,329 1,224 1,276 1,358 1,338 1,370 1,367 Groundnut oil $/mt b/ 2,436 1,773 1,313 1,537 1,311 1,228 1,345 1,368 1,365 1,368 1,370 Palm oil $/mt b/ 999 857 821 897 911 887 772 713 722 731 685 Palmkernel oil $/mt 1,110 897 1,121 1,057 1,278 1,262 988 955 935 971 960 Soybean meal $/mt b/ 524 545 528 570 582 566 493 470 459 486 466 Soybean oil $/mt b/ 1,226 1,057 909 991 977 967 865 827 835 830 816 Soybeans $/mt b/ 591 538 492 555 552 518 457 439 424 449 444 Grains Barley $/mt b/ 240.3 202.2 137.6 150.7 129.5 137.9 130.1 152.8 124.6 158.4 175.4 Maize $/mt b/ 298.4 259.4 192.9 199.4 209.9 214.0 174.1 173.5 163.1 178.7 178.7 Rice, Thailand 5% $/mt b/ 563.0 505.9 422.8 442.7 443.7 393.3 433.0 421.3 428.0 418.0 418.0 Rice, Thailand 25% $/mt 543.8 473.0 382.2 408.9 375.0 351.3 400.0 402.3 409.0 400.0 398.0 Rice, Thailand A1 $/mt 525.1 474.0 425.1 411.8 426.7 397.8 448.6 427.5 437.6 423.8 421.2 Rice, Vietnam 5% $/mt 434.4 392.4 407.2 397.2 391.2 388.6 435.2 413.8 437.0 422.0 382.4 Sorghum $/mt 271.9 243.3 207.2 202.1 224.2 219.4 184.3 201.0 187.8 199.6 215.6 Wheat, US HRW $/mt b/ 313.2 312.2 284.9 308.0 297.1 322.1 262.5 257.9 245.4 258.7 269.6 Wheat, US SRW $/mt 295.4 276.7 245.2 276.4 264.0 263.7 213.8 239.3 220.1 236.0 261.8 Other Food Bananas, EU $/kg 1.10 1.02 1.04 0.94 1.05 1.14 0.99 0.99 1.01 1.00 0.95 Bananas, US $/kg b/ 0.98 0.92 0.93 0.93 0.95 0.92 0.94 0.90 0.90 0.90 0.91 Meat, beef $/kg b/ 4.14 4.07 4.95 4.03 4.23 4.30 5.58 5.68 5.90 5.77 5.37 Meat, chicken $/kg b/ 2.08 2.29 2.43 2.31 2.31 2.40 2.49 2.51 2.51 2.51 2.51 Meat, sheep $/kg 6.09 5.65 6.39 6.06 6.32 6.70 6.49 6.05 6.19 6.07 5.89 Oranges $/kg b/ 0.87 0.97 0.78 0.83 0.78 0.84 0.77 0.74 0.73 0.72 0.77 Shrimp, Mexico $/kg 10.06 13.84 17.25 16.70 17.09 17.75 18.08 16.08 16.04 16.09 16.09 Sugar, EU domestic $/kg b/ 0.42 0.43 0.43 0.44 0.45 0.45 0.43 0.41 0.41 0.41 0.40 Sugar, US domestic $/kg b/ 0.64 0.45 0.53 0.46 0.47 0.55 0.56 0.55 0.58 0.53 0.54 Sugar, World $/kg b/ 0.47 0.39 0.37 0.39 0.37 0.40 0.38 0.35 0.37 0.36 0.34 continued on next page -1- World Bank Commodities Price Data (The Pink Sheet) 6-Jan-2015 Annual Averages Quarterly Averages Monthly Averages Jan-Dec Jan-Dec Jan-Dec Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Oct Nov Dec Commodity Unit 2012 2013 2014 2013 2014 2014 2014 2014 2014 2014 2014 Raw Materials Timber Logs, Cameroon $/cum 451.4 463.5 465.2 476.5 479.6 480.0 464.0 437.1 443.5 436.6 431.2 Logs, Malaysia $/cum b/ 360.5 305.4 282.0 296.3 289.8 291.5 286.5 260.4 275.6 256.1 249.4 Plywood ¢/sheets 610.3 560.2 517.3 543.6 531.5 534.7 525.5 477.6 505.6 469.8 457.4 Sawnwood, Cameroon $/cum 759.3 749.2 789.5 776.0 792.9 806.5 800.0 758.4 770.0 756.0 749.2 Sawnwood, Malaysia $/cum b/ 876.3 852.8 897.9 882.7 901.9 917.3 910.0 862.6 875.8 859.9 852.2 Woodpulp $/mt 762.8 823.1 876.9 858.7 870.2 887.5 875.0 875.0 875.0 875.0 875.0 Other Raw Materials Cotton, A Index $/kg b/ 1.97 1.99 1.83 1.92 2.07 2.04 1.70 1.52 1.55 1.49 1.51 Rubber, RSS3 $/kg b/ 3.38 2.79 1.96 2.53 2.25 2.12 1.84 1.62 1.62 1.64 1.60 Rubber, TSR20 $/kg 3.16 2.52 1.71 2.31 1.98 1.73 1.63 1.51 1.51 1.54 1.48 Fertilizers DAP $/mt b/ 539.8 444.9 472.5 366.1 476.1 458.9 495.3 459.6 466.5 452.8 459.6 Phosphate rock $/mt b/ 185.9 148.1 110.2 110.0 104.4 109.8 111.7 115.0 115.0 115.0 115.0 Potassium chloride $/mt b/ 459.0 379.2 297.2 341.6 314.0 287.0 287.0 300.6 290.7 305.5 305.6 TSP $/mt b/ 462.0 382.1 388.3 301.3 365.9 369.2 413.0 405.3 410.0 405.0 401.0 Urea, E. Europe $/mt b/ 405.4 340.1 316.2 313.9 337.5 296.0 316.4 314.9 321.1 311.3 312.4 Metals and Minerals Aluminum $/mt b/ 2,023 1,847 1,867 1,767 1,709 1,800 1,990 1,970 1,946 2,056 1,909 Copper $/mt b/ 7,962 7,332 6,863 7,163 7,030 6,795 6,996 6,632 6,737 6,713 6,446 Iron ore $/dmt b/ 128 135 97 135 120 103 90 74 81 74 68 Lead $/mt b/ 2,065 2,140 2,095 2,114 2,101 2,097 2,182 2,001 2,034 2,030 1,938 Nickel $/mt b/ 17,548 15,032 16,893 13,909 14,661 18,468 18,584 15,860 15,812 15,807 15,962 Tin $/mt b/ 21,126 22,283 21,899 22,897 22,636 23,146 21,915 19,898 19,830 20,033 19,830 Zinc $/mt b/ 1,950 1,910 2,161 1,909 2,026 2,071 2,311 2,235 2,277 2,253 2,176 Precious Metals Gold $/toz c/ 1,670 1,411 1,266 1,271 1,293 1,289 1,281 1,199 1,222 1,175 1,201 Platinum $/toz c/ 1,551 1,487 1,384 1,396 1,427 1,446 1,433 1,228 1,260 1,208 1,215 Silver $/toz c/ 31.1 23.8 19.1 20.8 20.5 19.7 19.7 16.5 17.2 16.0 16.3 World Bank commodity price indices for low and middle income countries (2010=100) Energy 127.6 127.4 118.3 127.7 128.3 129.6 121.6 93.6 106.2 96.3 78.4 Non Energy Commodities 109.5 101.7 97.0 98.6 99.1 99.3 96.8 92.7 93.3 93.6 91.2 Agriculture 114.5 106.3 102.7 103.6 105.5 106.6 101.2 97.7 98.0 98.3 96.7 Beverages 92.6 83.3 101.8 83.1 94.5 104.8 105.3 102.4 106.8 101.4 99.0 Food 124.5 115.6 107.4 111.2 111.8 111.5 104.5 101.6 100.7 103.0 101.2 Fats and Oils 126.1 115.9 109.0 119.2 120.1 116.1 102.3 97.3 96.0 99.6 96.2 Grains 141.3 128.2 103.9 109.5 110.1 110.9 97.7 96.9 92.9 98.0 99.6 Other Food 107.1 103.9 108.4 102.4 102.4 105.9 113.4 111.7 113.9 112.1 109.2 Raw Materials 101.3 95.4 92.0 95.4 95.6 95.6 91.1 85.6 87.0 85.2 84.5 Timber 109.1 102.6 104.9 104.6 105.8 107.4 106.3 99.9 102.3 99.3 98.1 Other Raw Materials 92.8 87.6 77.8 85.4 84.3 82.6 74.5 69.9 70.1 69.8 69.6 Fertilizers 137.6 113.7 100.5 97.9 102.5 95.8 101.5 102.1 102.7 101.9 101.8 Metals and Minerals 96.1 90.8 84.8 88.5 85.7 84.9 87.1 81.4 82.6 82.9 78.8 Base Metals d/ 98.0 90.3 89.0 87.6 86.5 88.3 92.9 88.5 88.9 90.4 86.3 Precious Metals 138.5 115.1 101.1 103.1 104.3 103.3 102.8 94.2 96.3 92.1 94.0 Notes: a/ Included in the energy index, b/ Included in the non-energy index, c/ Included in the precious metals index, d/ Metals and Minerals exluding iron ore. Abbreviations: $ = US dollar bbl = barrel cum = cubic meter dmt = dry metric ton kg = kilogram mmbtu = million British thermal units mt = metric ton toz = troy oz .. = not available Sources: Bloomberg, Cotton Outlook, Datastream, Fertilizer Week, INFOFISH, INTERFEL Fel Actualités hebdo, International Cocoa Organization, International Coffee Organization, International Rubber Study Group, International Tea Committee, International Tropical Timber Organization, Inte rnatonal Sugar Organization, ISTA Mielke GmbH Oil World, Japan Lumber Journal, MLA Meat & Livestock Weekly, Platts International Coal Report, Singapore Commodity Exch ange, Sopisco News, Sri Lanka Tea Board, US Department of Agriculture, US NOAA Fisheries Service, World Gas Intelligence. continued on next page Description of Price Series -2- Description of Price Series Coal (Australia), thermal, f.o.b. piers, Newcastle/Port Kembla, 6,700 kcal/kg, 90 days forward delivery beginning year 2011; for period 2002-2010, 6,300 kc/kg (11,340 btu/lb); prior to year 2002, 6,667 kcal/kg (12,000 btu/lb). Coal (Colombia), thermal, f.o.b. Bolivar, 6,450 kcal/kg, (11,200 btu/lb); during years 2002-July 2005 11,600 btu/lb, less than .8% sulfur, 9% ash, 90 days forward delivery. Coal (South Africa), thermal, f.o.b. Richards Bay, 90 days forward delivery; 6,000 kcal/kg, during 2002-2005, 6,200 kcal/kg (11,200 btu/lb); during 1990-2001 6390 kcal/kg (11,500 btu/lb). Crude oil, average price of Brent, Dubai and West Texas Intermediate, equally weighed. Crude oil, U.K. Brent 38° API. Crude oil, Dubai Fateh 32 ° API. Crude oil, West Texas Intermediate (WTI) 40° API. Natural Gas Index (Laspeyres), weights based on 5-year consumption volumes for Europe, US and Japan (LNG), updated every 5 years, except the 11-year period 1960-70. Natural Gas (Europe), average import border price, including UK. As of April 2010 includes a spot price component. Between June 2000 - March 2010 excludes UK. Natural Gas (U.S.), spot price at Henry Hub, Louisiana. Natural gas LNG (Japan), import price, cif, recent two months' averages are estimates. Cocoa (ICCO), International Cocoa Organization daily price, average of the first three positions on the terminal markets of New York and London, nearest three future trading months. Coffee (ICO), International Coffee Organization indicator price, other mild Arabicas, average New York and Bremen/Hamburg markets, ex-dock. Coffee (ICO), International Coffee Organization indicator price, Robustas, average New York and Le Havre/Marseilles markets, ex-dock. Tea, average three auctions, arithmetic average of quotations at Kolkata, Colombo and Mombasa/Nairobi. Tea (Colombo auctions), Sri Lankan origin, all tea, arithmetic average of weekly quotes. Tea (Kolkata auctions), leaf, include excise duty, arithmetic average of weekly quotes. Tea (Mombasa/Nairobi auctions), African origin, all tea, arithmetic average of weekly quotes. Coconut oil (Philippines/Indonesia), bulk, c.i.f. Rotterdam. Copra (Philippines/Indonesia), bulk, c.i.f. N.W. Europe. Groundnuts (US), Runners 40/50, shelled basis, c.i.f. Rotterdam. Groundnut oil (any origin), c.i.f. Rotterdam. Fishmeal (any origin), 64-65%, c&f Bremen, estimates based on wholesale price, beginning 2004; previously c&f Hamburg. Palm oil (Malaysia), 5% bulk, c.i.f. N. W. Europe. Palmkernel Oil (Malaysia), c.i.f. Rotterdam. Soybean meal (any origin), Argentine 45/46% extraction, c.i.f. Rotterdam beginning 1990; previously US 44%. Soybean oil (Any origin), crude, f.o.b. ex-mill Netherlands. Soybeans (US), c.i.f. Rotterdam. Barley (US) feed, No. 2, spot, 20 days To-Arrive, delivered Minneapolis from May 2012 onwards; during 1980 - 2012 April Canadian, feed, Western No. 1, Winnipeg Commodity Exchange, spot, wholesale farmers' price. Maize (US), no. 2, yellow, f.o.b. US Gulf ports. Rice (Thailand), 5% broken, white rice (WR), milled, indicative price based on weekly surveys of export transactions, government standard, f.o.b. Bangkok. Rice (Thailand), 25% broken, WR, milled indicative survey price, government standard, f.o.b. Bangkok. Rice (Thailand), 100% broken, A.1 Super from 2006 onwards, government standard, f.o.b. Bangkok; prior to 2006, A1 Special, a slightly lower grade than A1 Super. Rice (Vietnam), 5% broken, WR, milled, weekly indicative survey price, Minimum Export Price, f.o.b. Hanoi. Sorghum (US), no. 2 milo yellow, f.o.b. Gulf ports. Wheat (US), no. 1, hard red winter, ordinary protein, export price delivered at the US Gulf port for prompt or 30 days shipment. Wheat (US), no. 2, soft red winter, export price delivered at the US Gulf port for prompt or 30 days shipment. Bananas (Central & South America), major brands, free on truck (f.o.t.) Southern Europe, including duties; prior to October 2006, f.o.t. Hamburg. Bananas (Central & South America), major brands, US import price, f.o.t. US Gulf ports. Meat, beef (Australia/New Zealand), chucks and cow forequarters, frozen boneless, 85% chemical lean, c.i.f. U.S. port (East Coast), ex-dock, beginning November 2002; previously cow forequarters. Meat, chicken (US), broiler/fryer, whole birds, 2-1/2 to 3 pounds, USDA grade "A", ice-packed, Georgia Dock preliminary weighted average, wholesale. Meat, sheep (New Zealand), frozen whole carcasses Prime Medium (PM) wholesale, Smithfield, London beginning January 2006; previously Prime Light (PL). Oranges (Mediterranean exporters) navel, EEC indicative import price, c.i.f. Paris. Shrimp , (Mexico), west coast, frozen, white, No. 1, shell-on, headless, 26 to 30 count per pound, wholesale price at New York. Sugar (EU), European Union negotiated import price for raw unpackaged sugar from African, Caribbean and Pacific (ACP) under Lome Conventions, c.i.f. European ports. Sugar (US), nearby futures contract, c.i.f. Sugar (world), International Sugar Agreement (ISA) daily price, raw, f.o.b. and stowed at greater Caribbean ports. Logs (West Africa), sapele, high quality (loyal and marchand), 80 centimeter or more, f.o.b. Douala, Cameroon beginning January 1996; previously of unspecified dimension. Logs (Malaysia), meranti, Sarawak, sale price charged by importers, Tokyo beginning February 1993; previously average of Sabah and Sarawak weighted by Japanese import volumes. Plywood (Africa and Southeast Asia), Lauan, 3-ply, extra, 91 cm x 182 cm x 4 mm, wholesale price, spot Tokyo. Sawnwood (Cameroon), sapele, width 6 inches or more, length 6 feet or more, f.a.s. Cameroonian ports. Sawnwood (Malaysia), dark red seraya/meranti, select and better quality, average 7 to 8 inches; length average 12 to 14 inches; thickness 1 to 2 inch(es); kiln dry, c. & f. UK ports, with 5% agents commission including premium for products of certified sustainable forest beginning January 2005; previously excluding the premium. Woodpulp (Sweden), softwood, sulphate, bleached, air-dry weight, c.i.f. North Sea ports. Cotton (Cotton Outlook "CotlookA index"), middling 1-3/32 inch, traded in Far East, C/F beginning 2006; previously Northern Europe, c.i.f. Rubber (Asia), RSS3 grade, Singapore Commodity Exchange Ltd (SICOM) nearby contract beginning 2004; during 2000 to 2003, Singapore RSS1; previously Malaysia RSS1. Rubber (Asia), TSR 20, Technically Specified Rubber, SICOM nearby contract. DAP (diammonium phosphate), standard size, bulk, spot, f.o.b. US Gulf. Phosphate rock (Morocco), 70% BPL, contract, f.a.s. Casablanca. Potassium chloride (muriate of potash), standard grade, spot, f.o.b. Vancouver. TSP (triple superphosphate), bulk, spot, beginning October 2006, Tunisian origin, granular, fob; previously US origin, f.o.b. US Gulf. Urea, (Black Sea), bulk, spot, f.o.b. Black Sea (primarily Yuzhnyy) beginning July 1991; for 1985-91 (June) f.o.b. Eastern Europe. Aluminum (LME) London Metal Exchange, unalloyed primary ingots, high grade, minimum 99.7% purity, settlement price beginning 2005; previously cash price. Copper (LME), grade A, minimum 99.9935% purity, cathodes and wire bar shapes, settlement price. Iron ore (any origin) fines, spot price, c.f.r. China, 62% Fe beginning December 2008; previously 63.5%. Lead (LME), refined, 99.97% purity, settlement price. Nickel (LME), cathodes, minimum 99.8% purity, settlement price beginning 2005; previously cash price. Tin (LME), refined, 99.85% purity, settlement price. Zinc (LME), high grade, minimum 99.95% purity, settlement price beginning April 1990; previously special high grade, minimum 99.995%, cash prices . Gold (UK), 99.5% fine, London afternoon fixing, average of daily rates. Platinum (UK), 99.9% refined, London afternoon fixing. Silver (UK), 99.9% refined, London afternoon fixing; prior to July 1976 Handy & Harman. Grade prior to 1962 unrefined silver. -3-