Summary

The past year has seen price increases across a wide range of inputs as major economies unleash COVID-related fiscal stimulus and global supply chains reach their breaking point. Agricultural commodities are no exception. In fact, the UN Food and Agriculture Organization (FAO) price index hit a decade high earlier in the year, evoking fears of a two-pronged crisis of COVID and hunger in the developing world. Five outputs have led the way in price increases are oats, coffee, canola, cotton, and wheat.