Why are current world food prices so high? : a memo

M.A.H. Banse, P.L. Nowicki, H. van Meijl

    Research output: Book/ReportReportProfessional


    World agricultural prices are very volatile which is due to traditional characteristics of agricultural markets such as inelastic (short run) supply and demand curves. A combination of record low global inventory levels, weather induced supply side shocks, surging outside investor influence, record oil prices and structural changes in demand for grains and oilseeds due to biofuels have created the high prices. The question is whether it is a coincidence that the past and current high price levels coincide with high oil prices or whether other reasons for the current price peak are more important.
    Original languageEnglish
    Place of PublicationWageningen
    PublisherLEI Wageningen UR
    Number of pages27
    Publication statusPublished - 2008

    Publication series

    NameReport / LEI : International policy


    • agricultural economics
    • world markets
    • agricultural prices
    • food prices
    • food production
    • natural resources
    • agricultural policy
    • market prices
    • consumer prices
    • commodity markets
    • commodities
    • supply
    • demand
    • economic growth
    • population growth
    • crop production
    • market structure
    • economic aspects
    • biobased economy

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