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Lessons from the spike in agriculture prices in 2007-12

The last time the prices of agricultural commodities rose as sharply as they have done in recent months was in the run up to the Global Financial Crisis and in 2011-12. During these times fears of food shortages were intense and some governments responded with restrictions on the export of staple agricultural commodities. In this Commodities Watch, we look at the differences and similarities between soaring prices in 2007-12 and 2020-22 and discuss whether prices will go into freefall in the coming years as they did in 2013.

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