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Medium- to Long-Run Implications of High Food Prices for.pdf

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The Journal of Nutrition Supplement: The Impact of Climate Change, the Economic Crisis, and the Increase in Food Prices on Malnutrition Medium- to Long-Run Implications of High Food Prices for Global Nutrition Patrick Webb* Friedman School of Nutrition Science and Policy, Tufts University, Boston, MA 02111 Abstract The combined food, fuel, and ﬁnancial crises of 2007–2009 had severe and widespread negative impacts around the world. Two key questions challenging governments were: how long would the high prices last and with what effects on food security and nutrition over the longer run? This paper considers the drivers of the crisis and explores if, unlike past shocks, the recent price increases reﬂect structural changes in food price formation that will have lasting global implications. New cross-commodity relationships allowed prices to spike, although there was no shortage of food at the D global level nor indeed a signiﬁcant downturn in recent yields. Yet recent record levels of farm production were also o w n