Title: 2000s commodities boom - Wikipedia
Headings: 2000s commodities boom
2000s commodities boom
Contents
Background of depressed prices
Boom
Food
Corn, wheat, rice, cocoa and Soya beans
Paper
Recycled paper
Fuel
Coal
Oil
Uranium
Precious metals
Gold
Silver
Platinum
Rhodium
Palladium
Rhenium
Other industrial metals
Aluminium
Nickel
Copper
Iron
Lead
Zinc
Neodymium
Other metals
Chemicals
Sulphuric acid
Non metals
Chlorine
Late-2000s economic fallout
The 2008 price glitch
Mine closures
Opinions on the commodities bubble
Aftermath
See also
Notes
References
Further reading
External links

Content: Food
Corn, wheat, rice, cocoa and Soya beans
The growth in food production has been greater than population growth. Both a rising global population and a sharp decline in food crop production in favour of a sharp rise in biofuel crops helped cause a sharp rise in basic food stock prices. Ethiopia also saw a drought threaten its already frail farm lands in 2007. Cocoa was also affected by a bad crop in 2008, due to disease and unusually heavy rain in parts of West Africa. Rising demand in both India and Egypt helped to ramp up demand for American wheat during the bull market during August 2007. Discounted wheat sold at about £11–£15/t. August 2007, with non-discounted wheat at slightly higher price. The November 2007 wheat futures market was trading at nearly £165/t, with November 2008 contracts at £128.50. The market became rather bearish as non-futures prices froze and stagnated in December 2007. The price of wheat reached record highs after Kazakhstan began to limit supplies being sold overseas in early 2008, but had slowed down by late 2008.