The Impact of the Global Grain Problem Caused by the Russia-Ukraine Conflict on Chinese Grain Market

Yumeng Jiang (), Fengyi Sun, Xinping Hu and Yuchen Lu
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Yumeng Jiang: Lanzhou University, School of Management
Fengyi Sun: The Australian National University, College of Business and Economics
Xinping Hu: University of Liverpool, Management School
Yuchen Lu: Beijing Royal School

A chapter in Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023), 2023, pp 639-649 from Springer

Abstract: Abstract This paper examines the impact on the Chinese grain market of the global food problem caused by the Russian-Ukrainian conflict. It is conducted in two main aspects. First, the Russia-Ukraine conflict was found to have caused a global food problem. In turn, the impact of Chinese food was examined. Hypothesis testing was used to explain the impact on the Chinese grain market. It was found that after the Russia-Ukraine conflict, grain futures prices in China increased significantly compared to the pre-conflict period. Then, the regression model is applied to examine changes in the grain stocks of leading Chinese companies in the context of the grain futures that have been studied. In turn, the impact of global food issues on the stock prices of grain companies in the Chinese stock market is explained. It is then found that the AAR and CAAR data are obtained by averaging the AR and CAR data for the eight companies. Therefore, it can be concluded that the Russian-Ukrainian conflict started to have an impact on the entire Chinese grain market ten days after it occurred and that it also had a different effect on the leading Chinese grain companies.

Keywords: Russia-Ukraine Conflict; Grain Futures; Stocks; Empirical Analysis; Hypothesis Testing; Linear Regression (search for similar items in EconPapers)
Date: 2023
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DOI: 10.2991/978-94-6463-142-5_71

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