The biennial publication Commodity Market Review (CMR) analyses important agricultural commodity market developments likely to have significant implications for FAO member countries, both developed and developing. The significant food price increases of 2007-08 and their negative effect on food security and poverty in developing couches prompted a shift in policy thinking towards making global markets less fragile and more resilient. This biennial CMR is devoted to exploring a variety of issues relevant to the recent price surge. It focuses on a number of key topics that feature highly in discussions among analysts and policy-makers and discusses a number of policy options, both international and domestic. It also draws a number of lessons from the price episode and the policy reactions. The articles included in this CMR are published as a contribution of FAO to the ongoing policy debate on food price surges, as well as to increase general awareness of the relevant issues and provide policy guidelines.