A Note on Rising Food Prices

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dc.creatorMitchell, Donald
dc.date2012-05-31T21:59:59Z
dc.date2012-05-31T21:59:59Z
dc.date2008-07
dc.date.accessioned2026-07-01T01:11:40Z
dc.descriptionThe 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.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2008/07/9724305/note-rising-food-prices
dc.identifierhttps://hdl.handle.net/10986/6820
dc.identifierhttps://doi.org/10.1596/1813-9450-4682
dc.identifier.urihttp://hdl.handle.net/123456789/415993
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper No. 4682
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGRICULTURAL EXPORTS
dc.subjectAGRICULTURAL MARKETS
dc.subjectAGRICULTURAL PRODUCTS
dc.subjectAGRICULTURE
dc.subjectANIMAL FATS
dc.subjectBANANAS
dc.subjectBEETS
dc.subjectBIODIESEL
dc.subjectBIOFUEL
dc.subjectBIOFUEL PRODUCTION
dc.subjectBIOFUEL USE
dc.subjectBIOFUELS
dc.subjectBIOFUELS PRODUCTION
dc.subjectBY-PRODUCTS
dc.subjectCEREAL PRICES
dc.subjectCEREALS
dc.subjectCLIMATIC CONDITIONS
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCONSUMER PRICES
dc.subjectCONSUMERS
dc.subjectCORN
dc.subjectCORN PRICES
dc.subjectCOST INCREASES
dc.subjectCOTTONSEED
dc.subjectCROP
dc.subjectCROP PRICES
dc.subjectCROP PRODUCTION
dc.subjectCROP PROSPECTS
dc.subjectDEBT
dc.subjectDEMAND FOR FOOD
dc.subjectDEMAND GROWTH
dc.subjectELASTICITY
dc.subjectENERGY PRICES
dc.subjectETHANOL
dc.subjectETHANOL PRODUCTION
dc.subjectEXCHANGE RATES
dc.subjectEXCISE TAXES
dc.subjectFAO
dc.subjectFARM
dc.subjectFERTILIZER
dc.subjectFINANCIAL CRISIS
dc.subjectFLAX
dc.subjectFOOD EXPORTS
dc.subjectFOOD GRAINS
dc.subjectFOOD POLICY
dc.subjectFOOD POLICY RESEARCH
dc.subjectFOOD PRICES
dc.subjectFOOD PRODUCTION
dc.subjectFOOD PRODUCTS
dc.subjectFOOD RIOTS
dc.subjectFOODS
dc.subjectFORECASTS
dc.subjectFOSSIL FUELS
dc.subjectGRAIN
dc.subjectGRAIN CONSUMPTION
dc.subjectGRAIN PRICES
dc.subjectGRAIN PRODUCTION
dc.subjectHOUSEHOLD INCOMES
dc.subjectIFPRI
dc.subjectINFLATION
dc.subjectINTERNATIONAL FOOD POLICY RESEARCH INSTITUTE
dc.subjectMAIZE
dc.subjectMAIZE PRODUCTION
dc.subjectMARKET DEVELOPMENTS
dc.subjectMARKET PRICES
dc.subjectMEAL
dc.subjectMEATS
dc.subjectOILSEED PRICES
dc.subjectOILSEEDS
dc.subjectPALM OIL
dc.subjectPALM OIL PRICES
dc.subjectPOULTRY
dc.subjectPOULTRY INDUSTRY
dc.subjectPRICE INCREASE
dc.subjectPRICE INCREASES
dc.subjectPRICE INDEX
dc.subjectPRICE INFLATION
dc.subjectPRODUCE
dc.subjectPRODUCTION COSTS
dc.subjectPROTEIN
dc.subjectRAPESEED
dc.subjectRENEWABLE FUELS
dc.subjectRETAIL
dc.subjectRETAIL PRICES
dc.subjectRICE
dc.subjectRICE PRICE
dc.subjectRICE PRICES
dc.subjectRICE PRODUCTION
dc.subjectSOYBEAN
dc.subjectSOYBEAN OIL
dc.subjectSOYBEAN PRICES
dc.subjectSOYBEANS
dc.subjectSTARCH
dc.subjectSTOCKS
dc.subjectSUBSTITUTES
dc.subjectSUBSTITUTION
dc.subjectSUGAR
dc.subjectSUGAR CANE
dc.subjectSUGAR CROPS
dc.subjectSUNFLOWER
dc.subjectSUNFLOWER OIL
dc.subjectTOTAL COSTS
dc.subjectVEGETABLE OIL
dc.subjectVEGETABLE OILS
dc.subjectWHEAT
dc.subjectWHEAT FUTURES
dc.subjectWHEAT PRICES
dc.subjectWORLD MARKET
dc.subjectWORLD MARKETS
dc.subjectYIELDS
dc.titleA Note on Rising Food Prices

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