Rice crisis: THE AFTERMATH - What has happened, what has changed, and what are the challenges ahead?

摘要

Compared with the prices of other cereals such as wheat and maize, rice prices were relatively subdued for much of 2007. In late 2007, however, prices began to zoom upward to levels not witnessed in more than three decades. Between November 2007 and May 2008, export prices almost tripled (Figure 1). Since then, prices have softened but remain high. Several factors such as adverse weather in key producing countries, high oil prices, and pro-ethanol policies combined with speculative trading and government trade interventions to control domestic prices contributed to the recent spike.