With prices now lower (albeit still above average levels over the past ten years), the emphasis has shifted to the chronic lack of smallholder development, with strong support for “smart” subsidies for seed and fertiliser. Of course, income growth (and the related objectives of poverty reduction and improved food security) is not the only objective in developing countries. Policies to improve incomes therefore need to be seen in the light of their impact on other objectives, such as sustainable resource use and improved gender equality. Furthermore, it is helpful to make a distinction between policies that can raise incomes in the short term, when economic structures are essentially fixed, and those that can facilitate a transition to economic structures that are capable of generating fundamentally higher incomes in the longer term.