ABSTRACT

High Agricultural Commodity Prices: What Are the Issues? [Updated May 29, 2008]   [open pdf - 391KB]

This CRS "report examines the causes, consequences, and outlook for prices of the major U.S. program crops, and provides references for more detailed information...Prices for nearly all major U.S. agricultural program crops - corn, barley, sorghum, oats, wheat, rice, and soybeans - have exhibited extreme price volatility since mid-2007, while rising to record or near-record levels in early 2008. Several international organizations have announced that the sharply rising commodity prices are likely to have dire consequences for the world's vulnerable populations, particularly in import-dependent, less developed nations. In the United States, high commodity prices have pushed farm income to successive annual records and have sharply lowered government farm program costs, but they have also stoked the flames of food price inflation and have raised costs for livestock producers and food processors."

Report Number:
CRS Report for Congress, RL34474
Author:
Publisher:
Date:
2008-05-29
Copyright:
Public Domain
Retrieved From:
Via E-mail
Media Type:
application/pdf
URL:
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