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New Zealand Journal of Forestry (2007) 52(2): 36–40
©New Zealand Institute of Forestry

Professional Paper
Supply-side inflation in commodities, producer pricing power, and forestry

John Walker

School of Forestry, University of Canterbury

The World has contended with higher oil prices and higher metal prices, and now it faces the prospect of higher food prices. These three scarcities are supply driven: in this decade, oil has gone from $10 to over $70 a barrel; copper from 60c to $3.60 a pound; corn from $1.60 to $3.50 a bushel - and one should probably contemplate a fourth scarcity, water - and labour.
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