§ Mr. Tom ClarkeTo ask the Chancellor of the Duchy of Lancaster if he will publish a table in theOfficial Report showing, for each year from 1970, as an index, with 1970 = 100, average real prices for the following commodities (a) cotton, (b) metal, (c) wool, (d) coffee and (e) all non-food agricultural products.
§ Mr. Alan Clark[holding answer 16 May 1988]There is no unique deflator to convert commodity prices to real terms. The available information is in the table, based on prices in US dollars.
World export prices of selected primary commodities 1970 = 1001 Cotton Non-ferrous metals Wool Coffee Non-food agricultural products 1970 100 100 100 100 100 1971 n.a. n.a. n.a. n.a. n.a. 1972 122 87 164 98 122 1973 197 121 353 125 196 1974 233 152 238 134 222 1975 192 120 204 147 196 1976 259 127 208 282 207 1977 249 136 223 493 230 1978 245 147 232 321 244 1979 261 194 268 341 294 1980 306 216 304 337 309 1981 282 190 319 270 285 1982 237 165 296 263 252 1983 265 167 268 263 269 1984 269 162 257 283 285 1985 229 154 182 273 229 1986 187 151 179 384 232 1 Based on prices in $US. n.a. = not readily available. Source: United Nations.