What Drove the Crop Price Hikes in the Food Crisis?

Tetsuji Tanaka, Nobuhiro Hosoe

    Research output: Working paperDiscussion paper

    Abstract

    In the late 2000s, the world grain markets experienced severe turbulence with
    rapid crop price rises caused by bad crops, oil price hikes, export restrictions, and the emergence of biofuels as well as financial speculation. We review the impacts of the first four real-side factors using a world trade computable general equilibrium model. Our simulation results show that oil and biofuels-related shocks were the major factors among these four in crop price hikes but that these real-side factors in total can explain only about 10% of the actual crop price rises.
    Original languageEnglish
    Place of PublicationJapan
    PublisherGRIPS Discussion Paper
    Volume11-16
    Publication statusPublished - 15 Dec 2011

    Fingerprint

    Crops
    Food crisis
    Factors
    Biofuels
    Turbulence
    Computable general equilibrium model
    Oil
    Grain market
    Speculation
    Oil prices
    World trade
    Simulation

    Keywords

    • food crisis
    • crop price hikes
    • bad crops
    • oil price hikes
    • export restrictions
    • emergence of biofuels
    • computable general equilibrium model

    Cite this

    Tanaka, T., & Hosoe, N. (2011). What Drove the Crop Price Hikes in the Food Crisis? Japan: GRIPS Discussion Paper.

    What Drove the Crop Price Hikes in the Food Crisis? / Tanaka, Tetsuji; Hosoe, Nobuhiro.

    Japan : GRIPS Discussion Paper, 2011.

    Research output: Working paperDiscussion paper

    Tanaka, T & Hosoe, N 2011 'What Drove the Crop Price Hikes in the Food Crisis?' GRIPS Discussion Paper, Japan.
    Tanaka T, Hosoe N. What Drove the Crop Price Hikes in the Food Crisis? Japan: GRIPS Discussion Paper. 2011 Dec 15.
    Tanaka, Tetsuji ; Hosoe, Nobuhiro. / What Drove the Crop Price Hikes in the Food Crisis?. Japan : GRIPS Discussion Paper, 2011.
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