Food, grains, metals. In a new world of rising prices, commodities are back on the global agenda. But can extractive industries and agriculture help reduce poverty? They have been touted as a tool for development; however, in some cases commodities have flourished in contexts of corruption, conflict and ecological destruction, damaging people's lives and opportunities, while benefiting elites and foreign companies. Growing demand pushes prices up, enabling Africa and Latin America to profit from the formidable expansion of Asian economies. IPS reports on the perspectives and pitfalls of the remarkable upswing.