Global agricultural market trends revisited: Roles of energy prices and biofuel

(pg 9)

The results of our analysis suggest that the price of important agricultural commodities will rise by between about 50 to 100 per cent between 2003/05 and 2015/17. The single most important determinant of price increases turned out to be the price of energy.

Price increases in the order of magnitude suggested by the results of this analysis have the potential to result in grave consequences for the world