The Tale of Commodities : from Super Cycles to Structural Changes

We are now in the fifth week since the U.S. airstrike that killed top leaders of the Iranian regime, initiating a war involving the United States and Israel against the country. More than a month of mutual bombardments between Iran and Israel has ensued, extending to other Persian Gulf nations, U.S. military installations—and even Cyprus. From a global perspective, the impact has stemmed primarily from disruptions to regional production of goods and the blockade of the Strait of Hor ...

Sur les marchés mondiaux de matières premières, l’année 2025 s’est inscrite dans le sillage de 2024 : une hausse record des cours des métaux précieux dans le contexte d’incertitudes, toujours plus marquées, et des métaux de base dont la performance a, une fois encore, été largement déterminée par les niveaux de l’offre minière. Du côté des ‘’ softs’’, cacao et café se sont repliés après les records de prix passés, tandis que le marché des céréales a connu une relative stab ...

On the global commodities markets, 2025 largely followed the trajectory set in 2024, with a record rise in precious metals prices against a backdrop of ever-increasing uncertainty, and base metals whose performance was once again largely determined by mining supply levels. On the softs side, cocoa and coffee retreated from past record prices, while the cereals market experienced relative price stability between 2024 and 2025, against a backdrop of abundant harvests worldwide. Oil an ...

This Opinion was originally published on ispionline.it Morocco’s food strategy, once centered on self-sufficiency, now faces climate stress, water scarcity, and global volatility, demanding a resilient and sustainable food system fit for new realities. ...

After more than seven years of drought, Morocco experienced exceptionally abundant rainfall during the winter of 2025-2026, reflecting increasingly marked water variability. This rapid alternation between chronic deficits and occasional excesses reveals the country's water paradox: a system historically centered on scarcity must now manage concentrated and intense extreme episodes.Hydraulic infrastructures helped limit human and economic impacts and ensured significant replenishment ...

Après plus de sept années de sécheresse, le Maroc a connu durant l’hiver 2025–2026 des précipitations exceptionnellement abondantes, témoignant d’une variabilité hydrique de plus en plus marquée. Cette alternance rapide entre déficit chronique et excès ponctuels révèle le paradoxe hydrique national : un système historiquement centré sur la rareté doit désormais gérer des épisodes extrêmes concentrés et intenses.Les infrastructures hydrauliques ont limité les impacts humains et écono ...