Title: 2007–2008 world food price crisis - Wikipedia
Headings: 2007–2008 world food price crisis
2007–2008 world food price crisis
Contents
Drastic price increases and possible causes
World population growth
Increased demand for more resource intensive food
Effects of petroleum and fertilizer price increases
Declining world food stockpiles
Financial speculation
Commodity index funds
Effects of trade liberalization
Effects of food for fuel
Biofuel subsidies in the US and the EU
Idled farmland
Agricultural subsidies
Distorted global rice market
Crop shortfalls from natural disasters
Soil and productivity losses
Rising levels of ozone
Rising prices
In developed countries
United States
Effects on farmers
Relationship with 2008 Chinese milk scandal
Unrest and government actions in individual countries and regions
Tunisia
Morocco
Bangladesh
Brazil
Burkina Faso
Cameroon
Côte d'Ivoire
Egypt
Ethiopia
Haiti
India
Indonesia
Latin America
Mexico
Mozambique
Pakistan
Myanmar
Panama
Philippines
Russia
Senegal
Somalia
Tajikistan
Yemen
Projections and early mitigation efforts
After the crisis
Actions by governments
Food price decreases
See also
References
External links

Content: Record high prices occurred during the food price crisis followed by another surge in prices since 2010. Food and Agriculture Organization of the United Nations. World food prices increased dramatically in 2007 and the first and second quarter of 2008, creating a global crisis and causing political and economic instability and social unrest in both poor and developed nations. Although the media spotlight focused on the riots that ensued in the face of high prices, the ongoing crisis of food insecurity had been years in the making. Systemic causes for the worldwide increases in food prices continue to be the subject of debate. After peaking in the second quarter of 2008, prices fell dramatically during the late-2000s recession but increased during late 2009 and 2010, reaching new heights in 2011 and 2012 (see 2010–2012 world food price crisis) at a level slightly higher than the level reached in 2008. Over the next years, prices fell, reaching a low in March 2016 with the deflated Food and Agriculture Organization (FAO) food price index close to pre-crisis level of 2006. As of May 2017
[update]
they have not reached crisis levels again, despite prices increasing. The initial causes of the late-2006 price spikes included droughts in grain-producing nations and rising oil prices. Oil price increases also caused general escalations in the costs of fertilizers, food transportation, and industrial agriculture.