Agricultural Commodity Prices: Perspectives and Policies
World prices of wheat, coarse grains, rice and oilseed crops nearly doubled between 2005 and 2007 and continued to rise into 2008, although some of them later started to fall back. The price increases have been a significant factor driving up the price of food to consumers and the cost of feed for cereal-based livestock producers. They have drawn heightened attention to problems of food security and hunger, especially for poorer food consumers in developing countries. A major question is whether these price increases reflect a fundamental change in global food markets and an end to the long-term downward trend in falling real prices of agricultural commodities. Understanding the causes of the recent price increases in the context of long-term trends is vital in order to identify the appropriate policy responses by governments. This article, based on the latest "OECD-FAO Agricultural Outlook, 2008-2017", focuses on the factors behind the price increases, the medium-term perspectives, and the appropriate policy responses. Rising food prices is an issue of a truly global nature. A calm, objective response is needed now from individual governments and from international organisations in order to ensure an effective and a coherent global response, and to avoid making a difficult situation worse. Copyright (c) 2008 OECD. Journal compilation (c) The Agricultural Ecomomics Society and the European Association of Agricultural Economists 2008.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 7 (2008)
Issue (Month): SpecialIssueCAP (08)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=1478-0917|
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1478-0917|
When requesting a correction, please mention this item's handle: RePEc:bla:eurcho:v:7:y:2008:i:specialissuecap:p:36-43. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.