Year: 2008
Type: report
Abstract: World agricultural prices are very volatile which is due to traditional characteristics of agricultural markets such as inelastic (short run) supply and demand curves. A combination of record low global inventory levels, weather induced supply side shocks, surging outside investor influence, record oil prices and structural changes in demand for grains and oilseeds due to biofuels have created the high prices. The question is whether it is a coincidence that the past and current high price levels coincide with high oil prices or whether other reasons for the current price peak are more important.
Authors: Martin Banse, Paweł Nowicki, Hans van Meijl
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
SDG: Zero hunger
Open Access status: green
OpenAlex ID: W1577662207