Studies in Agricultural Economics

Food prices in the EU have risen dramatically in 2022 and the first half of 2023. The drivers of this increase originated in energy cost increases, aggravated by the effects of drought and animal disease outbreaks, but high global market prices in part due to the Russian invasion of Ukraine after February 2022 also helped to pull food prices higher and may have facilitated some element of profit-led inflation. Households have responded by buying less and trading down, with an increasing number turning to food banks to help make ends meet. Some limited steps were taken at EU level to...

The COVID-19 pandemic has had serious implications for food security around the world. The Russian-Ukrainian military conflict led to another surge in food prices. Central Asia, despite its diverse levels of economic development, has undoubtedly experienced a tangible shock from the food crisis of recent years. Food inflation in the region has many aspects to it. It was initially determined by global food price trends and the depreciation of national currencies during the pandemic period. Several national factors affected the local food situation: a series of adverse weather conditions, the different fiscal consequences of pandemic, and national strategic policies in...

Food price inflation has raised concerns about food insecurity and systemic crises in East and Southeast Asia, given the region’s population size, economic significance, and role in the international food market. COVID-19 repercussions, extreme climate- and weather-induced events, anthropogenic stressors such as global economic softness and the Russia-Ukraine war, and many other uncertainties enlarged the supply-demand imbalance of food. Those factors are not likely to ease in the short term and in the meantime, potentially new food crises are simmering in East and Southeast Asia. Meanwhile, China’s reopening and deepened intraregional integration have allowed the region’s food price situation to...

Food prices in Africa respond in familiar ways to changes in the global environment, but there are a number of unique characteristics that have to be accounted for in understanding how these prices play out in domestic markets. African countries are price takers in global agricultural commodity markets, and face high farm gate to consumer costs, which are a major driver of food price inflation. Furthermore, the uncertainty that accompanies poor policy formulation and implementation distorts markets and results in the skewing of investment to mitigate the negative impacts of policy uncertainty rather than to build future opportunities. Finally, the...

Food inflation in North America reached its peak in 2022, mainly driven by two factors: COVID-19 and Russia’s invasion of Ukraine. COVID-19 disrupted the global supply chain, and triggered labour shortages; consequently, governments in all three North American countries adopted fiscal and monetary policies to offset the impact of the pandemic, mostly by providing direct assistance to businesses and households and by lowering interest rates. The invasion of Ukraine, a major exporter of grain and vegetable oil, increased commodity prices and contributed to higher food prices. Overall, food inflation in the U.S. varies according to both sector and timeframe. In...

This exploratory article focuses on the factors influencing recent food price inflation in Latin America. The onset of the pandemic has significantly heightened concerns regarding food price inflation. Quarantines, mobility restrictions, and uncertainty all occurring in quick succession have led to substantial disruptions in both local and global value chains. Furthermore, the Ukraine-Russia conflict has exacerbated the existing inflationary situation, introducing additional interruptions and disturbances to agribusiness value chains. Drawing upon empirical research, this article examines the impact of the SARS-CoV-2 pandemic and the subsequent Ukraine-Russia conflict on food price inflation in Latin America. It also assesses the policy measures...