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Oil prices, biofuels production and food security: past trends and future challenges

To, Hang; Grafton, Quentin

Description

Using US and global data we estimate auto-regressive models of US and global food prices as a function of oil prices, GDP per capita and biofuels production. Our model results show: (1) biofuels production and crude oil prices have a statistically significant effect on food prices in the US and globally; (2) during the global food price spike in 2008, increases in US biofuels production and the US crude oil price accounted for 38 and 41 %, respectively, of the increase in US food prices; (3)...[Show more]

CollectionsANU Research Publications
Date published: 2015
Type: Journal article
URI: http://hdl.handle.net/1885/57502
Source: Food Security
DOI: 10.1007/s12571-015-0438-9

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