Publication:
A Note on Rising Food Prices

dc.contributor.author Mitchell, Donald
dc.date.accessioned 2012-05-31T21:59:59Z
dc.date.available 2012-05-31T21:59:59Z
dc.date.issued 2008-07
dc.description.abstract The rapid rise in food prices has been a burden on the poor in developing countries, who spend roughly half of their household incomes on food. This paper examines the factors behind the rapid increase in internationally traded food prices since 2002 and estimates the contribution of various factors such as the increased production of biofuels from food grains and oilseeds, the weak dollar, and the increase in food production costs due to higher energy prices. It concludes that the most important factor was the large increase in biofuels production in the U.S. and the EU. Without these increases, global wheat and maize stocks would not have declined appreciably, oilseed prices would not have tripled, and price increases due to other factors, such as droughts, would have been more moderate. Recent export bans and speculative activities would probably not have occurred because they were largely responses to rising prices. While it is difficult to compare the results of this study with those of other studies due to differences in methodologies, time periods and prices considered, many other studies have also recognized biofuels production as a major driver of food prices. The contribution of biofuels to the rise in food prices raises an important policy issue, since much of the increase was due to EU and U.S. government policies that provided incentives to biofuels production, and biofuels policies which subsidize production need to be reconsidered in light of their impact on food prices. en
dc.identifier http://documents.worldbank.org/curated/en/2008/07/9724305/note-rising-food-prices
dc.identifier.uri http://hdl.handle.net/10986/6820
dc.language English
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Policy Research Working Paper No. 4682
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject AGRICULTURAL EXPORTS
dc.subject AGRICULTURAL MARKETS
dc.subject AGRICULTURAL PRODUCTS
dc.subject AGRICULTURE
dc.subject ANIMAL FATS
dc.subject BANANAS
dc.subject BEETS
dc.subject BIODIESEL
dc.subject BIOFUEL
dc.subject BIOFUEL PRODUCTION
dc.subject BIOFUEL USE
dc.subject BIOFUELS
dc.subject BIOFUELS PRODUCTION
dc.subject BY-PRODUCTS
dc.subject CEREAL PRICES
dc.subject CEREALS
dc.subject CLIMATIC CONDITIONS
dc.subject COMMODITY
dc.subject COMMODITY PRICE
dc.subject COMMODITY PRICES
dc.subject CONSUMER PRICES
dc.subject CONSUMERS
dc.subject CORN
dc.subject CORN PRICES
dc.subject COST INCREASES
dc.subject COTTONSEED
dc.subject CROP
dc.subject CROP PRICES
dc.subject CROP PRODUCTION
dc.subject CROP PROSPECTS
dc.subject DEBT
dc.subject DEMAND FOR FOOD
dc.subject DEMAND GROWTH
dc.subject ELASTICITY
dc.subject ENERGY PRICES
dc.subject ETHANOL
dc.subject ETHANOL PRODUCTION
dc.subject EXCHANGE RATES
dc.subject EXCISE TAXES
dc.subject FAO
dc.subject FARM
dc.subject FERTILIZER
dc.subject FINANCIAL CRISIS
dc.subject FLAX
dc.subject FOOD EXPORTS
dc.subject FOOD GRAINS
dc.subject FOOD POLICY
dc.subject FOOD POLICY RESEARCH
dc.subject FOOD PRICES
dc.subject FOOD PRODUCTION
dc.subject FOOD PRODUCTS
dc.subject FOOD RIOTS
dc.subject FOODS
dc.subject FORECASTS
dc.subject FOSSIL FUELS
dc.subject GRAIN
dc.subject GRAIN CONSUMPTION
dc.subject GRAIN PRICES
dc.subject GRAIN PRODUCTION
dc.subject HOUSEHOLD INCOMES
dc.subject IFPRI
dc.subject INFLATION
dc.subject INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE
dc.subject MAIZE
dc.subject MAIZE PRODUCTION
dc.subject MARKET DEVELOPMENTS
dc.subject MARKET PRICES
dc.subject MEAL
dc.subject MEATS
dc.subject OILSEED PRICES
dc.subject OILSEEDS
dc.subject PALM OIL
dc.subject PALM OIL PRICES
dc.subject POULTRY
dc.subject POULTRY INDUSTRY
dc.subject PRICE INCREASE
dc.subject PRICE INCREASES
dc.subject PRICE INDEX
dc.subject PRICE INFLATION
dc.subject PRODUCE
dc.subject PRODUCTION COSTS
dc.subject PROTEIN
dc.subject RAPESEED
dc.subject RENEWABLE FUELS
dc.subject RETAIL
dc.subject RETAIL PRICES
dc.subject RICE
dc.subject RICE PRICE
dc.subject RICE PRICES
dc.subject RICE PRODUCTION
dc.subject SOYBEAN
dc.subject SOYBEAN OIL
dc.subject SOYBEAN PRICES
dc.subject SOYBEANS
dc.subject STARCH
dc.subject STOCKS
dc.subject SUBSTITUTES
dc.subject SUBSTITUTION
dc.subject SUGAR
dc.subject SUGAR CANE
dc.subject SUGAR CROPS
dc.subject SUNFLOWER
dc.subject SUNFLOWER OIL
dc.subject TOTAL COSTS
dc.subject VEGETABLE OIL
dc.subject VEGETABLE OILS
dc.subject WHEAT
dc.subject WHEAT FUTURES
dc.subject WHEAT PRICES
dc.subject WORLD MARKET
dc.subject WORLD MARKETS
dc.subject YIELDS
dc.title A Note on Rising Food Prices en
dspace.entity.type Publication
okr.crosscuttingsolutionarea Jobs
okr.doctype Publications & Research :: Policy Research Working Paper
okr.doctype Publications & Research
okr.docurl http://documents.worldbank.org/curated/en/2008/07/9724305/note-rising-food-prices
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Agriculture
okr.globalpractice Trade and Competitiveness
okr.globalpractice Finance and Markets
okr.globalpractice Energy and Extractives
okr.identifier.doi 10.1596/1813-9450-4682
okr.identifier.externaldocumentum 000020439_20080728103002
okr.identifier.internaldocumentum 9724305
okr.identifier.report WPS4682
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/07/28/000020439_20080728103002/Rendered/PDF/WP4682.pdf en
okr.topic Energy :: Renewable Energy
okr.topic Economic Theory and Research
okr.topic Food and Beverage Industry
okr.topic Macroeconomics and Economic Growth :: Markets and Market Access
okr.topic Crops and Crop Management Systems
okr.topic Industry
okr.topic Agriculture
okr.unit Development Research Group (DECRG)
okr.volume 1 of 1
relation.isSeriesOfPublication 26e071dc-b0bf-409c-b982-df2970295c87
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