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The Economics of Food: How Feeding and Fueling the Planet Affects Food Prices by Patrick Westhoff

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Chapter 9. A Longer View

How will food prices evolve over the next few months, years, or decades? All the factors discussed in previous chapters are likely to have an impact on food prices far into the future. If favorable weather results in good global harvests, for example, food prices in any given year will be lower than if droughts in key growing regions reduce global crop supplies.

Future food prices will not depend only on things that make food prices change from one year to the next, but also on factors that cause food prices to change from one decade to the next. Population growth, for example, may not cause big annual swings in food prices, but it will be a critical factor in determining how food prices change between now and 2050. ...

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