World Bank Commodities Price Data (The Pink Sheet) 2-Sep-2016 Annual Averages Quarterly Averages Monthly Averages Jan-Dec Jan-Dec Jan-Dec Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jun Jul Aug Commodity Unit 2013 2014 2015 2015 2015 2015 2016 2016 2016 2016 2016 Energy Coal, Australia $/mt a/ 84.6 70.1 57.5 59.0 57.5 52.3 50.9 51.9 53.2 62.3 67.4 Coal, Colombia $/mt 71.9 65.9 52.5 54.3 50.4 48.0 42.7 44.8 46.8 54.2 57.9 Coal, South Africa $/mt 80.2 72.3 57.0 60.7 54.3 51.1 51.5 54.8 57.6 62.5 65.9 Crude oil, average $/bbl 104.1 96.2 50.8 60.5 48.8 42.2 32.7 44.8 47.7 44.1 44.9 Crude oil, Brent $/bbl a/ 108.9 98.9 52.4 62.1 50.0 43.4 34.4 46.0 48.5 45.1 46.1 Crude oil, Dubai $/bbl a/ 105.4 96.7 51.2 61.4 49.9 41.2 30.6 42.9 45.8 42.6 43.7 Crude oil, WTI $/bbl a/ 97.9 93.1 48.7 57.8 46.4 42.0 33.2 45.5 48.8 44.7 44.8 Natural gas, Index 2010=100 112.1 111.7 73.3 74.2 72.2 61.4 52.2 49.5 54.9 59.6 59.3 Natural gas, Europe $/mmbtu a/ 11.8 10.1 7.3 7.3 6.9 6.3 4.8 4.1 4.1 4.5 4.5 Natural gas, US $/mmbtu a/ 3.7 4.4 2.6 2.7 2.7 2.1 2.0 2.1 2.6 2.8 2.8 Natural gas, LNG Japan $/mmbtu a/ 16.0 16.0 10.4 9.2 9.2 8.9 7.7 6.1 6.0 6.3 6.3 Non Energy Commodities Agriculture Beverages Cocoa $/kg b/ 2.44 3.06 3.14 3.07 3.25 3.30 2.98 3.10 3.12 3.05 3.04 Coffee, arabica $/kg b/ 3.08 4.42 3.53 3.54 3.36 3.31 3.31 3.49 3.65 3.79 3.69 Coffee, robusta $/kg b/ 2.08 2.22 1.94 1.98 1.87 1.79 1.65 1.84 1.89 2.00 2.02 Tea, average $/kg 2.86 2.72 2.71 2.79 2.85 2.76 2.36 2.57 2.65 2.73 2.71 Tea, Colombo auctions $/kg b/ 3.45 3.54 2.96 3.00 2.83 2.85 2.82 2.98 2.95 3.10 3.22 Tea, Kolkata auctions $/kg b/ 2.73 2.58 2.42 2.56 2.78 2.52 1.89 2.59 2.74 2.80 2.70 Tea, Mombasa auctions $/kg b/ 2.40 2.05 2.74 2.80 2.95 2.91 2.38 2.14 2.27 2.31 2.20 Food Oils and Meals Coconut oil $/mt b/ 941 1,280 1,110 1,115 1,067 1,109 1,273 1,531 1,563 1,507 1,537 Copra $/mt 627 854 735 737 708 737 855 1,019 1,048 1,008 1,041 Fishmeal $/mt 1,747 1,709 1,558 1,523 1,472 1,524 1,465 1,526 1,586 1,550 1,576 Groundnuts $/mt 1,378 1,296 1,248 1,290 1,193 1,175 1,158 1,208 1,260 1,400 1,550 Groundnut oil $/mt b/ 1,773 1,313 1,337 1,346 1,332 1,298 1,277 1,550 1,700 1,673 .. Palm oil $/mt b/ 857 821 623 664 574 570 631 704 683 652 736 Palmkernel oil $/mt 897 1,121 909 957 802 831 1,032 1,283 1,312 1,277 1,396 Soybean meal $/mt b/ 545 528 395 391 398 358 328 419 467 441 404 Soybean oil $/mt b/ 1,057 909 757 774 736 743 749 795 798 788 812 Soybeans $/mt b/ 538 492 390 394 385 372 370 424 457 432 414 Grains Barley $/mt b/ 202.2 138.2 194.3 201.4 199.9 186.8 183.1 172.0 171.5 155.0 138.0 Maize $/mt b/ 259.4 192.9 169.8 168.4 169.3 167.2 159.9 171.1 179.9 161.8 150.6 Rice, Thailand 5% $/mt b/ 505.9 422.8 386.0 385.3 374.0 368.0 379.0 423.0 441.0 442.0 415.0 Rice, Thailand 25% $/mt 473.0 382.2 372.6 372.3 361.7 359.0 370.0 407.7 422.0 424.0 403.0 Rice, Thailand A1 $/mt 474.0 425.1 386.0 387.6 375.8 365.3 372.8 408.2 426.8 417.9 397.8 Rice, Vietnam 5% $/mt 392.4 407.2 351.8 351.3 337.4 355.7 361.7 373.6 372.5 361.6 347.5 Sorghum $/mt 243.3 207.2 204.7 215.2 190.0 176.3 173.9 173.9 173.9 173.9 141.1 Wheat, US HRW $/mt b/ 312.2 284.9 204.5 216.1 183.3 179.6 190.5 177.4 173.0 151.6 149.8 Wheat, US SRW $/mt 276.7 245.2 206.4 205.2 196.4 200.6 190.0 189.9 187.0 166.5 159.9 Other Food Bananas, EU $/kg 1.02 1.04 0.90 0.92 0.90 0.88 0.91 0.94 0.94 0.93 0.90 Bananas, US $/kg b/ 0.92 0.93 0.96 0.97 0.95 0.93 1.03 0.99 0.99 1.01 1.06 Meat, beef $/kg b/ 4.07 4.95 4.42 4.47 4.55 3.91 3.72 3.95 4.00 4.14 4.09 Meat, chicken $/kg b/ 2.29 2.43 2.53 2.55 2.55 2.50 2.47 2.46 2.47 2.46 2.45 Meat, sheep $/kg 5.17 6.39 5.22 5.38 5.07 4.82 4.51 4.64 4.66 4.41 4.67 Oranges $/kg b/ 0.97 0.78 0.68 0.62 0.65 0.73 0.69 0.78 0.88 0.97 0.96 Shrimp, Mexico $/kg 13.84 17.25 14.36 15.65 15.43 10.50 10.83 10.80 10.69 10.69 10.69 Sugar, EU domestic $/kg b/ 0.43 0.43 0.36 0.36 0.36 0.36 0.36 0.37 0.37 0.36 0.37 Sugar, US domestic $/kg b/ 0.45 0.53 0.55 0.54 0.54 0.56 0.57 0.61 0.61 0.62 0.63 Sugar, World $/kg b/ 0.39 0.37 0.30 0.29 0.27 0.32 0.31 0.38 0.43 0.43 0.44 continued on next page -1- World Bank Commodities Price Data (The Pink Sheet) 2-Sep-2016 Annual Averages Quarterly Averages Monthly Averages Jan-Dec Jan-Dec Jan-Dec Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jun Jul Aug Commodity Unit 2013 2014 2015 2015 2015 2015 2016 2016 2016 2016 2016 Raw Materials Timber Logs, Cameroon $/cum 463.5 465.2 388.6 387.0 389.3 383.2 385.8 395.2 393.2 387.3 392.3 Logs, Malaysia $/cum b/ 305.4 282.0 246.0 245.4 243.6 245.2 258.2 275.7 282.3 286.0 294.0 Plywood ¢/sheets 560.2 517.3 451.2 450.1 446.8 449.8 473.7 505.8 517.7 524.5 539.3 Sawnwood, Cameroon $/cum 749.2 789.5 732.6 734.0 742.8 727.2 686.0 687.7 681.1 630.4 628.5 Sawnwood, Malaysia $/cum b/ 852.8 897.9 833.3 834.8 844.9 827.1 780.3 782.3 774.7 717.1 714.8 Woodpulp $/mt 823.1 876.9 875.0 875.0 875.0 875.0 875.0 875.0 875.0 875.0 875.0 Other Raw Materials Cotton, A Index $/kg b/ 1.99 1.83 1.55 1.59 1.56 1.53 1.48 1.57 1.63 1.79 1.77 Rubber, RSS3 $/kg b/ 2.79 1.95 1.57 1.79 1.48 1.28 1.32 1.61 1.49 1.59 1.55 Rubber, TSR20 $/kg 2.52 1.71 1.37 1.51 1.34 1.19 1.15 1.37 1.26 1.28 1.30 Fertilizers DAP $/mt b/ 444.9 472.5 458.9 469.0 464.3 419.3 366.7 351.0 346.0 341.0 340.0 Phosphate rock $/mt b/ 148.1 110.2 117.5 115.0 117.0 122.8 116.0 115.0 115.0 115.0 111.0 Potassium chloride $/mt b/ 379.2 297.2 302.9 307.0 302.7 297.0 283.0 263.0 256.0 228.0 220.0 TSP $/mt b/ 382.1 388.3 385.0 380.0 380.0 380.0 328.0 282.3 285.0 285.0 283.0 Urea, E. Europe $/mt b/ 340.1 316.2 272.9 277.0 268.3 250.6 208.7 198.3 191.0 177.0 182.0 Metals and Minerals Aluminum $/mt b/ 1,847 1,867 1,665 1,770 1,592 1,494 1,514 1,572 1,594 1,629 1,641 Copper $/mt b/ 7,332 6,863 5,510 6,057 5,267 4,885 4,675 4,736 4,642 4,865 4,759 Iron ore $/dmt b/ 135 97 56 58 55 47 48 56 52 57 61 Lead $/mt b/ 2,140 2,095 1,788 1,942 1,717 1,682 1,738 1,718 1,713 1,835 1,833 Nickel $/mt b/ 15,032 16,893 11,863 13,056 10,579 9,423 8,508 8,823 8,928 10,263 10,366 Tin $/mt b/ 22,283 21,899 16,067 15,590 15,230 15,077 15,439 16,902 16,967 17,826 18,405 Zinc $/mt b/ 1,910 2,161 1,932 2,192 1,843 1,612 1,677 1,917 2,026 2,183 2,277 Precious Metals Gold $/toz c/ 1,411 1,266 1,161 1,193 1,124 1,107 1,181 1,260 1,276 1,337 1,340 Platinum $/toz c/ 1,487 1,384 1,053 1,127 986 907 914 1,005 984 1,088 1,122 Silver $/toz c/ 23.8 19.1 15.7 16.4 14.9 14.8 14.9 16.9 17.3 20.0 19.6 World Bank commodity price indices for low and middle income countries (2010=100) Energy 127.4 118.3 64.9 75.5 62.7 54.2 43.0 55.7 59.4 56.6 57.6 Non Energy Commodities 101.7 97.0 82.4 84.8 80.7 77.6 76.0 81.0 82.6 82.2 81.8 Agriculture 106.3 102.7 89.3 90.2 88.1 85.9 84.5 91.1 93.9 92.0 91.1 Beverages 83.3 101.8 93.5 93.6 94.0 93.1 86.2 91.4 93.8 95.2 94.2 Food 115.6 107.4 90.9 91.6 88.8 86.6 86.7 94.9 98.9 95.8 94.7 Fats and Oils 115.9 109.0 85.2 86.7 83.1 79.6 79.9 93.5 98.3 93.8 93.5 Grains 128.2 103.9 88.8 89.9 85.7 84.1 84.4 87.8 90.3 83.6 78.9 Other Food 103.9 108.4 100.3 99.7 99.2 98.0 97.6 103.2 107.3 109.6 110.7 Raw Materials 95.4 91.9 83.3 85.1 83.2 80.8 78.5 81.9 82.0 80.9 80.8 Timber 102.6 104.9 96.1 96.2 96.9 95.4 92.2 93.7 93.6 88.6 89.0 Other Raw Materials 87.6 77.7 69.3 73.0 68.2 64.8 63.6 69.0 69.5 72.4 71.8 Fertilizers 113.7 100.5 95.4 95.6 94.4 92.3 81.6 76.1 74.8 71.1 70.7 Metals and Minerals 90.8 84.8 66.9 72.4 63.9 58.8 58.0 60.7 60.3 63.5 63.9 Base Metals d/ 90.3 89.0 73.6 79.9 70.0 65.0 63.8 65.9 66.0 69.1 69.0 Precious Metals 115.1 101.1 90.6 93.5 87.4 86.1 90.9 97.9 99.3 105.9 105.8 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 Organiza tion, 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. Coal (Colombia), thermal, f.o.b. Bolivar, 6,450 kcal/kg, (11,200 btu/lb), less than .8% sulfur, 9% ash, 90 days forward delivery. Coal (South Africa), thermal, f.o.b. Richards Bay, 6,000 kcal/kg, 90 days forward delivery. 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. Natural Gas (Europe), average import border price with a component of spot price, including UK. Natural Gas (U.S.), spot price at Henry Hub, Louisiana. Natural gas LNG (Japan), LNG, 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), Sri Lankan origin, all tea, arithmetic average of weekly quotes. Tea (Kolkata), leaf, include excise duty, arithmetic average of weekly quotes. Tea (Mombasa/Nairobi), 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 pric. 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. 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. 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. 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. 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. 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. 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), 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. Logs (Southeast Asia), meranti, Sarawak, Malaysia, sale price charged by importers, Tokyo. 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 (Southeast Asia), Malaysian dark red seraya/meranti, select and better quality, average 7 to 8 inches; length average 12 to 14 inches; thickness 1 to 2 inches; kiln dry, c. & f. UK ports, with 5% agents commission including premium for products of certified sustainable forest. 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. Rubber (Asia), RSS3 grade, Singapore Commodity Exchange Ltd (SICOM) nearby contract. 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, granular, fob Tunisia. Urea, (Black Sea), bulk, spot, f.o.b. Black Sea (primarily Yuzhnyy). Aluminum (LME) London Metal Exchange, unalloyed primary ingots, standard high grade, physical settlement. Copper (LME), standard grade A, cathodes and wire bar shapes, physical settlement. Iron ore (any origin) fines, spot price, c.f.r. China, 62% Fe. Lead (LME), refined, standard high grade, physical settlement. Nickel (LME), cathodes, standard high grade, physical settlement. Tin (LME), refined, standard high grade, physical settlement. Zinc (LME), refined, standard special high grade, physical settlement. 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. -3-