Last year’s Outlook featured an assessment of price volatility, price transmission and policy prescriptions which may help encourage more transparent and efficient markets, as well as address the impacts of volatility, especially on poor consumers. By August 2010, two months after the release of the Outlook, the anticipation of further bouts of high price volatility was realised as a shortfall in crop production (see the Cereals Chapter), and policy actions so impacted markets that prices rose precipitously toward 2007-08 levels by early 2011. International concern over volatility has been pronounced and in November 2010 the G20 at its Seoul Summit, requested that “…the FAO, IFAD, IMF, OECD, UNCTAD, WFP and the World Bank work with key stakeholders to develop options for G20 considerations on how to better mitigate and manage the risks associated with price volatility of food and other agricultural commodities without distorting market behaviour, ultimately to protect the most vulnerable.”