High Food Prices, Latin American and the Caribbean Responses to a New Normal
Yet the current situation differs from
2007-2008 in critical respects. First, recent international
price increases are more widespread across agricultural
commodities than in 2008, when price spikes were led by few
grains such as wheat and rice. Second, natural resources are
affecting food production: land and water constraints are
more binding than in the past and weather induced production
shortfalls are more of a factor now than it was 2008.