Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food Prices
This study compares the impact of Covid-19 and the Russia-Ukraine war on global staple food prices to know which is more dangerous. The error correction model (ECM) was used to examine the impact of Covid-19 and the Russia-Ukraine war on global wheat, maize, soybean, and rice prices. The study used...
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| Format: | Article |
| Language: | English |
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Czech Statistical Office
2025-06-01
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| Series: | Statistika: Statistics and Economy Journal |
| Subjects: | |
| Online Access: | https://csu.gov.cz/docs/107508/7adcd442-cf92-051a-573a-21bb67b2c4b5/32019725q2_nugroho_lakner.pdf?version=1.0 |
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| author | Agus Dwi Nugroho Zoltan Lakner |
| author_facet | Agus Dwi Nugroho Zoltan Lakner |
| author_sort | Agus Dwi Nugroho |
| collection | DOAJ |
| description | This study compares the impact of Covid-19 and the Russia-Ukraine war on global staple food prices to know which is more dangerous. The error correction model (ECM) was used to examine the impact of Covid-19 and the Russia-Ukraine war on global wheat, maize, soybean, and rice prices. The study used data from January 1997–June 2023 from various source databases. Covid-19 increased the global wheat, maize, and soybean prices in the long-run but had no impact at all in the short-run. Meanwhile, the Russia-Ukraine war only raised global wheat prices in the short-run but did not affect other global staple food prices. Covid-19 has spurred a bigger increase in global staple food prices than the Russia-Ukraine war. Increases in the short – and long-run global wheat, maize, and soybeans prices have also been attributed to rising global oil prices. The rise in urea fertilizer prices led to a short- and long-run increase in the price of rice globally while simultaneously lowering the price of wheat globally. |
| format | Article |
| id | doaj-art-8dd72a832d7e4c968bca3c9944f53b1f |
| institution | OA Journals |
| issn | 0322-788X 1804-8765 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Czech Statistical Office |
| record_format | Article |
| series | Statistika: Statistics and Economy Journal |
| spelling | doaj-art-8dd72a832d7e4c968bca3c9944f53b1f2025-08-20T02:07:51ZengCzech Statistical OfficeStatistika: Statistics and Economy Journal0322-788X1804-87652025-06-01105222724410.54694/stat.2024.29Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food PricesAgus Dwi Nugroho0Zoltan Lakner1Universitas Gadjah Mada, Yogyakarta, IndonesiaHungarian University of Agriculture and Life Sciences, Godollo, HungaryThis study compares the impact of Covid-19 and the Russia-Ukraine war on global staple food prices to know which is more dangerous. The error correction model (ECM) was used to examine the impact of Covid-19 and the Russia-Ukraine war on global wheat, maize, soybean, and rice prices. The study used data from January 1997–June 2023 from various source databases. Covid-19 increased the global wheat, maize, and soybean prices in the long-run but had no impact at all in the short-run. Meanwhile, the Russia-Ukraine war only raised global wheat prices in the short-run but did not affect other global staple food prices. Covid-19 has spurred a bigger increase in global staple food prices than the Russia-Ukraine war. Increases in the short – and long-run global wheat, maize, and soybeans prices have also been attributed to rising global oil prices. The rise in urea fertilizer prices led to a short- and long-run increase in the price of rice globally while simultaneously lowering the price of wheat globally.https://csu.gov.cz/docs/107508/7adcd442-cf92-051a-573a-21bb67b2c4b5/32019725q2_nugroho_lakner.pdf?version=1.0wheatmaizesoybeanricefood price volatility |
| spellingShingle | Agus Dwi Nugroho Zoltan Lakner Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food Prices Statistika: Statistics and Economy Journal wheat maize soybean rice food price volatility |
| title | Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food Prices |
| title_full | Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food Prices |
| title_fullStr | Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food Prices |
| title_full_unstemmed | Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food Prices |
| title_short | Comparative Impact of Covid-19 and the Russia-Ukraine War on Global Staple Food Prices |
| title_sort | comparative impact of covid 19 and the russia ukraine war on global staple food prices |
| topic | wheat maize soybean rice food price volatility |
| url | https://csu.gov.cz/docs/107508/7adcd442-cf92-051a-573a-21bb67b2c4b5/32019725q2_nugroho_lakner.pdf?version=1.0 |
| work_keys_str_mv | AT agusdwinugroho comparativeimpactofcovid19andtherussiaukrainewaronglobalstaplefoodprices AT zoltanlakner comparativeimpactofcovid19andtherussiaukrainewaronglobalstaplefoodprices |