High prices are a fire door in a burning building

摘要

Volatility has been a long-discussed topic when it comes to farm commodity prices, but historically that volatility has been relatively small compared with the extremes we have recently experienced.We used to get excited when wheat went up E10/t. It would have been impossible six months ago to imagine a drop of E30-E40/t in a week, followed by an increase of similar amounts the week after, or that wheat would be at the E300/t mark.Current high prices are like a fire door in a burning building, artificially holding back the flames, but it could give up at any time to expose the contents of the room - the UK farming industry - to the flames.