La hausse conjointe des prix de l’énergie et des prix agricoles entre 2006 et 2008 : la spéculation et les biocarburants sont-ils coupables ?*

Abstract

We review in this study the different factors which have been proposed in the literature as possible explanations of commodity prices sudden upsurge between 2006 and 2008. We examine as to whether scientific evidence validates any causal relationship. We emphasize in particular the role of explanatory variables underpinning the co-movement of energy and food price rise. Our aim is to provide an up-to-date understanding of food and energy market relationships, so as to better anticipate the possible changes in prices behaviour in the coming years.

Keywords

• energy prices
• agricultural prices
• food crisis
• speculation