Financialized commodity markets: Recent developments and policy issues

Recent developments in primary commodity prices have been exceptional in many ways. The price boom between 2002 and mid-2008 was the most pronounced in several decades – in magnitude, duration and breadth. The price decline following the eruption of the current global crisis in mid-2008 stands out both for its sharpness and for the number of commodities affected. Since mid-2009, and especially since the summer of 2010, global commodity prices have been rising again. While the oil price increases up to April 2011 were modest compared with the spike in 2007–2008, food prices reached an all-time high in February 2011.

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