Well, now we know. You posed the question in July 2012. And prices started falling in July 2013 and have reached the lowest level in USD since 2008. Of course, the COST of production has gone up significantly since 2008.
Labor, electricity, fuel (diesel), transport, licensing, cess, excise tax, VAT, etc
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett