Global commodity market disruption and the fallout

Abstract

The war in the breadbasket of Europe, which spawned at the heels of the once-in-a-lifetime pandemic, sent major cereal prices spiralling upward. The unprecedented sequence of events leading to and including the war has tested the resilience of global commodity markets and the craftsmanship of policymakers. While the circumstances may differ, the disruption of global commodity markets is not exactly uncharted territory, with many examples and experiences from near and distant history. By showcasing anecdotal and empirical evidence from the past, this study puts the current crisis and its consequences in perspective and offers an outlook with a specific focus on low- and middle-income countries.

Keywords

cereal prices; commodity markets; food crisis; market disruption; trade restrictions

Published in

Australian Journal of Agricultural and Resource Economics
2022, volume: 66, number: 4, pages: 737-752
Publisher: WILEY

SLU Authors

• Ferguson, Shon

  • Department of Economics, Swedish University of Agricultural Sciences
    
  • Research Institute of Industrial Economics

Global goals (SDG)

SDG1 No poverty
SDG17 Partnerships for the goals

UKÄ Subject classification

Economics

Publication identifier

• DOI: https://doi.org/10.1111/1467-8489.12497

Permanent link to this page (URI)

https://res.slu.se/id/publ/119696