How to calculate the growth rate of any commodity?
To calculate the growth rate of a commodity, follow these steps: Step 1: Gather Data Collect data on the quantity or price of the commodity over time. For example: Commodity production in different years Commodity prices over months/years Step 2: Identify the Time Period Determine the time interval for which you want to calculate the growth rate, such as: Annual growth rate : Compare two years Monthly growth rate : Compare two months CAGR (Compound Annual Growth Rate) : Over multiple years Step 3: Choose the Growth Rate Formula a. Simple Growth Rate (Percentage Change) Use this formula for the growth rate between two points in time: Growth Rate (%) = ( Value at End − Value at Start Value at Start ) × 100 \text{Growth Rate (\%)} = \left( \frac{\text{Value at End} - \text{Value at Start}}{\text{Value at Start}} \right) \times 100 Growth Rate (%) = ( Value at Start Value at End − Value at Start ) × 100 b. CAG...