1970s commodities boom

[2][verification needed] The Yom Kippur War in late 1973 was Egypts attempt at crossing the Suez Canal and taking the Sinai Peninsula back from Israeli occupation.

On October 19, 1973 Richard Nixon requested $2.2 billion to support Israel in the Yom Kippur War.

[5][verification needed] Sugar prices spiked in the 1970s because of Soviet Union demand/hoarding and possible futures contracts market manipulation.

There was a big earthquake in 1976 in Guatemala that disrupted supply chains, the world's fifth biggest coffee exporter at the time.

[12][verification needed] After World War II the Bretton Woods system had fixed exchange rates between countries and pegged to gold.