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Research article2022Peer reviewedOpen access

Global commodity market disruption and the fallout

Ferguson, Shon; Ubilava, David


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.


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

    Sustainable Development Goals

    End poverty in all its forms everywhere
    Strengthen the means of implementation and revitalize the global partnership for sustainable development

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