Consider the global market for barley, an agricultural commodity. Suppose that in August, 2014, the equilibrium price (per tonne) and quantity (million tonnes) were P = $150 and Q = 350. In August, 2015, the equilibrium price and quantity were P = $168 and Q = 290. Which of the following is the best possible explanation for this change in market equilibrium?

A)

There has been a simultaneous increase in demand and increase in supply of barley.

B)

There has been an increase in supply of barley.

C)

There has been an increase in demand for barley.

D)

There has been a decrease in supply of barley.