Causes, consequences and policy implications of global food price shocks: Introduction and overview.
Between January 2006 and April 2008 the real price of food traded on world markets rose by around 80%. The factors behind this dramatic surge are varied and, to an extent, remain contested, although fundamental shifts in patterns of demand, the effects of climate change, and the greater use of grains and oilseeds as fuel substitutes played a major role. Financial factors, including asset-price bubbles in commodity-backed securities, may also have played a role. As more recent events suggest, ...Expand abstract
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