Global commodity market disruption and the fallout. (2nd November 2022)

• Record Type: Journal Article
• Authors: Ferguson, Shon; Ubilava, David
• Is Part Of: Australian journal of agricultural and resource economics. Volume 66:Number 4(2022)
• Page Start: 737
• Page End: 752
• Publication Date: 2022-11-02
• Subjects: cereal prices -- commodity markets -- food crisis -- market disruption -- trade restrictions; Agriculture -- Economic aspects -- Periodicals; Agriculture -- Environmental aspects -- Periodicals; Natural resources -- Periodicals; Agriculture -- Economic aspects -- Australia -- Periodicals; Natural resources -- Australia -- Periodicals; 338.1
• DOI: 10.1111/1467-8489.12497
• Languages: English
• ISSNs: 1364-985X

Abstract

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.