Anatomy of a Crisis: What are the drivers of food prices in the US and what are the implications?
The recent spike in world commodity prices threatens to push millions of people into poverty, introduce political instability, and represents a major roadblock in achieving the United Nations Millennium Development Goal of eradicating extreme hunger. In this paper, we examine the previous research that has identified the drivers of world food price increases and further investigate the significance of those causes we believe to be key contributors to the current trend. We first rank the identified drivers in order of statistical significance, then test and analyze the significance of each driver using Pearson Correlations. In doing so, we utilize a systematic trend analysis that includes assessing social, technological, economic, ecological, and political themes. The result of our research is a more lucid understanding of food price drivers and their effects on business, as well as commentary on the accuracy of predictions made in past literature.