Oil price and food price volatility dynamics: The case of Nigeria

Nwoko, Ijeoma C.; Aye, Goodness C.; Asogwa, Benjamin C.

doi:10.1080/23311932.2016.1142413

Cited by 13 publications

(9 citation statements)

References 7 publications

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“…This thing show going up and down price by sharp on the price at the level consumer during COVID-19. Studies conducted by (Nwoko et al, 2016) happening increase price food when COVID-19 is caused by high price ingredient burn oil because existence restrictions mobility source power.…”

Section: Arch/garch Analysis Of Producer Andmentioning

confidence: 99%

Egg Chicken Race Price Volatility in Indonesia Before and During Covid-19 Pandemic

Girsang

Toiba

Syafrial

2023

AGRISE

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Understanding about dynamics of the price and volatility of a variety of food has gotten enough big attention in life Public because experience fluctuation sharp price consequences of turmoil economies. Crisis finance COVID-19 is one of the conditions crisis economy big problems experienced by Indonesia which triggered happening fluctuation the price is not stable (volatility) at producer level and also at consumer level. one ingredient food that has fluctuation price moment the COVID-19 pandemic is ingredient food egg chicken race. The study analyzed the volatility egg chicken race in Indonesia before and during the COVID-19 pandemic in Indonesia. The study used weekly egg chicken race price data at the producers and consumers level from March 2018-March 2022. The secondary data was obtained through Sistem Informasi Pasar Online Nasional-Ternak (SIMPONI-Ternak) by the Ministry of the Agriculture Republic of Indonesia. The analytical methods used in this study were Generalized Autoregressive Conditional Heteroscedasticity (GARCH) and autoregressive conditionally heteroscedastic approach (ARCH). The findings showed that the price of egg chicken race at producers and consumers level before the COVID-19 pandemic is categorized as a low volatility category and also at producer level during COVID-19 pandemics, while at the consumer level during COVID-19 pandemic is classified as high volatility category. Thus the research this has contributed is as follows. First, useful for designing policies with intervention to help food to the right community and provide regulation prices as an effort to repair prices price in reach stability price egg chicken race post the COVID-19 pandemic is good at the level of producer nor consumer. Second, evaluate the implication performance sector egg chicken race before and during COVID- 19 for destination development sustainable.

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Section: Arch/garch Analysis Of Producer Andmentioning

confidence: 99%

Egg Chicken Race Price Volatility in Indonesia Before and During Covid-19 Pandemic

Girsang

Toiba

Syafrial

2023

AGRISE

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“…Saat ini isu ketahanan pangan menjadi perhatian para pemangku kebijakan. Banyak penelitian yang telah melakukan identifikasi determinan variasi harga pangan dan menyimpulkan bahwa kenaikan harga pangan mengikuti kenaikan harga minyak mentah sehingga harga minyak menjadi salah satu penyebab yang potensial dari kenaikan harga pangan (Urbanchuk, 2007;Baek & Koo, 2009;Chen et al, 2010;Gogoi, 2014;Ibrahim, 2015;Nwoko et al, 2016). Alasan keterkaitan antara kedua variabel tersebut yaitu: pertama, kenaikan harga minyak mentah diperkirakan akan meningkatkan produksi biofuel sebagai alternatif pengganti minyak mentah, sehingga meningkatkan permintaan komoditas pertanian sebagai bahan baku biofuel.…”

Section: Pendahuluanunclassified

“…Esmaeili dan Shokoohi (2011) yang menggunakan uji Scree dan metode proporsi varian menunjukkan harga minyak mentah berpengaruh tidak langsung terhadap harga pangan. Nwoko et al (2016) meneliti dampak harga minyak pada ketidakstabilan harga pangan di Nigeria menggunakan Vector Auto Regression (VAR) dan uji kausalitas Granger. Hasilnya menunjukkan terdapat hubungan jangka pendek yang positif dan signifikan antara harga minyak dan harga pangan yang diteliti, sedangkan hasil uji kausalitas Granger menunjukkan kausalitas searah harga minyak terhadap ketidakstabilan harga jagung, kedelai, dan sorgum di Nigeria.…”

Section: Tinjauan Pustakaunclassified

Dampak pandemi COVID-19 terhadap harga minyak dan pangan dunia: Analisis VECM

Nugraheni¹,

Inayah²

2022

JEP

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The study investigates the impacts of the COVID-19 pandemic on global oil price, global food price index, meat, and sugar commodity price index using vector error correction (VECM) model covering the sample period of 1st April 2020 to 31st August 2021. Data were collected mainly from WHO, FAO, and Macro Trend Websites. The result from VECM model indicates a strong cointegration relationship among the variables. In the short run, global oil price, meat price index, and sugar price index are negatively and significantly related to the COVID-19 pandemic. In the long run, the prices of these variables do not follow to the others, but there is negative reaction of global oil prices to meat and sugar price index. The COVID-19 pandemic increased the meat and sugar price index, but not significantly at the 5% level.

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“…Using Malaysia as a case, Ibrahim (2015) reported the presence of short-and long-run asymmetries in food prices behaviour when oil price increases led to increasing food prices-but there was no association between the decline in oil prices and food prices. The potential asymmetry for transit from the price of oil to food is also analysed in an Indian context (Pal and Mitra, 2016).For an oil-dependent emerging economy as Nigeria, Nwoko et al (2016) investigated the causal link between food and oil prices volatility and concluded that the causality from oil prices to aggregate food price fluctuations is unidirectional. Olayungbo and Hassan (2016) examined the symmetric interactions between food and oil prices between oil and food prices of oil-exporters by applying a panel ARDL approach.…”

Section: Literature Reviewmentioning

confidence: 99%

Modelling the symmetrical and asymmetrical effects of global oil prices on local food prices: A MENA region application

cherif

Chen

2021

Environ Sci Pollut Res

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This paper explores the complex nexus between the global oil prices and the food prices of Middle East and North Africa (MENA) region during the period 2000-2020. Both linear and nonlinear models of the autoregressive distributed lag (ARDL) approach are adapted into panel data form to investigate the symmetrical and asymmetrical influence of oil prices on food prices. The key results are summarized: i) The effect of oil prices on food prices is significantly positive including both oil-exporting and oil-importing nations are verified in the long-term. The positive impact on oil-exporters-due to higher oil revenues-is greater than importing nations, leading to an increased demand for food. Additionally, the effect on oilexporters is negative and significant in the short-term but not significant for importers. ii) The panel analysis for the MENA sample confirms the presence of negative short-term asymmetric behaviour, while in the long-term, the asymmetric effect is positive, indicating that food prices increase regardless of fluctuations in oil prices. iii) Wald test results support asymmetric cointegration for the whole sample of the MENA due to the heterogeneous response within the oil-importing and exporting samples. Specifically, the non-linear ARDL test results affirm the absence of an asymmetric nexus among oil and food prices for oil-exporting group (including Saudi Arabia, Saudi Arabia, United Arab Emirates) and Tunisia within the oil-importing group.Although there are differences in the direction and degree, the food prices of other countries

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Oil price and food price volatility dynamics: The case of Nigeria

Cited by 13 publications

References 7 publications

Egg Chicken Race Price Volatility in Indonesia Before and During Covid-19 Pandemic

Egg Chicken Race Price Volatility in Indonesia Before and During Covid-19 Pandemic

Dampak pandemi COVID-19 terhadap harga minyak dan pangan dunia: Analisis VECM

Modelling the symmetrical and asymmetrical effects of global oil prices on local food prices: A MENA region application

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