Meanwhile, countries that are large net commodity importers with low international foreign exchange reserves and limited space in their budgets may need funding to help them deal with rising food prices, the World Bank cautioned.
Good news for commodity importers, bad news for exporters.
Although it hurts commodity-exporters from Russia to South America, it helps commodity importers in Asia and reduces inflation fears everywhere.
Again, Canada, Malaysia and Mexico, all big commodity producers, would be among the hardest-hit, but the euro area and Japan, big commodity importers, would gain.A third channel is foreign investment.
Commodity importers, however, would have benefitted slightly from prices remaining at their late-1990 level.
But the dollar was slightly lower and commodities fell, with some industrial metals and oil declining amid concerns that China's appetite as a commodities importer may wane.
A net exporter (importer) of a commodity enjoys (suffers from) a manna-from-heaven gain (loss) when its price increases.
India lost an estimated $10bn in iron ore exports in the last financial year and is expected to become a net importer of the commodity.
Although figures from the Food and Agriculture Organization show palm oil production increased from 130,000 tonnes to 225,000 tonnes between 2000 and 2013, the country is still a net importer of the commodity.
Within the next year, China will become a net wheat importer, driving food prices up just as it's driven up other commodity prices this decade.
Simultaneously, agricultural production doubled, transforming Viet Nam from a net food importer to one of the worlds largest exporters of rice and of commodities such as coffee, tea, rubber, pepper and fisheries products.
