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Global food crisis and crude oil price changes: Do they share common cyclical features?

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  • Ibrahim A. Onour

Abstract

This paper explores shared trends and shared cycles between crude oil market and global food commodity markets for wheat, rice, sugar, beef, coffee and groundnut. The results of the paper indicate that there is no evidence of shared trend and common cycle between crude oil market and each of the food commodity markets, suggesting that each market responds differently to cycle generating shocks. This result implies that change in food commodity prices do not mimic systematically the cyclical behaviour in crude oil price changes. Thus, non-oil factors, such as the speculative activities in commodity future markets, may have more important role in recent years food commodity price explosion.

Suggested Citation

  • Ibrahim A. Onour, 2010. "Global food crisis and crude oil price changes: Do they share common cyclical features?," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 3(1), pages 61-70.
    • Handle: RePEc:ids:ijepee:v:3:y:2010:i:1:p:61-70
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    Cited by:

    1. Onour, Ibrahim & Sergi, Bruno, 2011. "Global food and energy markets: volatility transmission and impulse response effects," MPRA Paper 34079, University Library of Munich, Germany.
    2. Hokey Min, 2022. "Examining the Impact of Energy Price Volatility on Commodity Prices from Energy Supply Chain Perspectives," Energies, MDPI, vol. 15(21), pages 1-16, October.

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