Hedge fund manager Pierre Andurand predicts copper prices could surge to $40,000 per tonne within the next few years due to increased demand from electrification, including electric vehicles and renewable energy projects. Current prices have already reached a record $11,000 per tonne. Jeff Currie of Carlyle also supports a bullish outlook, forecasting prices to hit $15,000 per tonne. The demand for copper is expected to rise significantly, with a projected supply gap of 10 million tonnes by 2030.
India's ban on rice exports has created a 10 million metric ton gap in the global rice supply, leading to concerns of copycat curbs by rival suppliers. The ban has caused a surge in rice prices, hitting 15-year highs, and could exacerbate global food inflation. As India now accounts for over 40% of global rice trade, other rice-exporting nations like Thailand and Vietnam may be forced to follow suit. However, limited surplus capacity for exports and domestic demand constraints may hinder their ability to bridge the supply gap. The situation could lead to a chain reaction of export restrictions, reminiscent of the 2007/08 price rally.
