Long-term crop productivity response and its interaction with cereal markets and energy prices

La réponse à long terme de la productivité des cultures et son interaction avec les marchés des céréales et les prix de l'énergie

Wyatt Thompson, Joe Dewbre, Simone Pieralli, Kateryna Schroeder, Ignacio Perez Dominguez () and Patrick Westhoff
Additional contact information
Wyatt Thompson: Mizzou - University of Missouri [Columbia] - University of Missouri System
Joe Dewbre: independent
Simone Pieralli: ECO-PUB - Economie Publique - INRA - Institut National de la Recherche Agronomique - AgroParisTech
Kateryna Schroeder: World Bank Groupe - Banque Mondiale
Patrick Westhoff: Mizzou - University of Missouri [Columbia] - University of Missouri System

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Abstract: Crop yields are endogenous as long as economic agents adjust to permanent changes in expected prices. The literature, however, does not offer a definitive value of how much yield would change in response to sustained price changes. To fill the gap, we use available scientific findings and data to estimate yield elasticities that enable agricultural commodity and food policy analysis. Using a world market model with short- to long-run yield response, we show the impacts of sustained energy price shocks on global cereal supply and demand. The results highlight substantial differences in quantity and price effects depending on the yield elasticities. These results demonstrate the need to recognize yield response when assessing impacts of energy prices or biofuel production on food uses or, more generally, on food security in the face of income and population growth, evolving dietary patterns, climate change implications, or other long-run pressures.

Keywords: réponse à long terme; productivité des cultures; prix de l'énergie; marchés des céréales (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

Published in Food Policy, 2019, 84, pp.1-9. ⟨10.1016/j.foodpol.2018.12.001⟩

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Journal Article: Long-term crop productivity response and its interaction with cereal markets and energy prices (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02619043

DOI: 10.1016/j.foodpol.2018.12.001

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