Speaking at the Bloomberg Link Inflation Conference, portfolio managers Lincoln Ellis of Linn Group and Jennifer Fan of Arrowhawk Capital, along with MIT Professor Roberto Rigobon, made the case for a new normal in the commodities complex, particularly as it relates to food and agricultural products.

FORBES: Highly Leveraged Agriculture Will Keep Food Prices Volatile And High

You should have noted that in the mid-1980s prices for agricultural commodities on which New Zealand depended hit their lowest level ever (thanks to agricultural subsidies, particularly in Europe and America).

ECONOMIST: New Zealand's reforms