Factors Affecting Crop Prices in the Context of Climate Change—A Review

Huong Nguyen (), Marcus Randall and Andrew Lewis
Additional contact information
Huong Nguyen: Bond Business School, Bond University, Gold Coast, QLD 4229, Australia
Marcus Randall: Bond Business School, Bond University, Gold Coast, QLD 4229, Australia
Andrew Lewis: Institute for Integrated and Intelligent Systems, Griffith University, Nathan, QLD 4111, Australia

Agriculture, 2024, vol. 14, issue 1, 1-17

Abstract: Food security has become a concerning issue because of global climate change and increasing populations. Agricultural production is considered one of the key factors that affects food security. The changing climate has negatively affected agricultural production, which accelerates food shortages. The supply of agricultural commodities can be heavily influenced by climate change, which leads to climate-induced agricultural productivity shocks impacting crop prices. This paper systematically reviews publications over the past ten years on the factors affecting the prices of a wide range of crops across the globe. This review presents a critical view of these factors in the context of climate change. This paper applies a systematic approach by determining the appropriate works to review with defined inclusion criteria. From this, groups of key factors affecting crop prices are found. This study finds evidence that crop prices have been both positively and negatively affected by a range of factors such as elements of climate change, biofuel, and economic factors. However, the general trend is towards increasing crop prices due to deceasing yields over time. This is the first systematic literature review which provides a comprehensive view of the factors affecting the prices of crops across the world under climate change.

Keywords: crop price determinants; economic drivers; impacts of climate change; yield change (search for similar items in EconPapers)
JEL-codes: Q1 Q10 Q11 Q12 Q13 Q14 Q15 Q16 Q17 Q18 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/2077-0472/14/1/135/pdf (application/pdf)
https://www.mdpi.com/2077-0472/14/1/135/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jagris:v:14:y:2024:i:1:p:135-:d:1320369

Access Statistics for this article

Agriculture is currently edited by Ms. Leda Xuan

More articles in Agriculture from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().