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Oil And Food Commodities Prices. Oil prices effect on agricultural commodity prices in Latin American Nations - Term Paper Example

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Oil And Food Commodities Prices
The analysis and investigation was undertaken using Principal component analysis (PCA) to comprehensively analyze the impacts of the macroeconomic index (fossil fuel prices) on the values of agricultural food products…
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Oil And Food Commodities Prices. Oil prices effect on agricultural commodity prices in Latin American Nations
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Oil And Food Commodities Prices. Oil prices effect on agricultural commodity prices in Latin American Nations

Download file to see previous pages... To achieve this objective, this paper investigated the agricultural food prices for seven major farm products namely meat, oilseed, egg, rice, wheat, milk and sugar. On the other hand, the macroeconomic investigated were fossil crude oil prices, agricultural food prices indexes, GDP and consumer price index around Latin America as from 1963 to 2007. The study applied the use of Scree test and the magnitude of the variance method for measuring the optimal value of the common factors. The relationship coefficient that existed between the obtained principal function or component and the macro-economic index fluctuates between 0.87 for Latin America GDP and 0.36 for the consumer price index (CPI). According to the findings, agricultural food production index has the largest impacts on the macro-economic index and similarly the crude fossil oil has the greatest influence on the agricultural food production index and as a consequent, the prices of crude has a direct impacts and influence on the agricultural food prices in Latin America.
In the economic advancement process, food supply and its security are imperative issues. Therefore, food prices are an essential effective variable that have a direct effect on its supply and demand. Ever soaring food prices and cases of food riots across the globe and more important in Latin America have heightened concerns about the world food supply and food security. Food prices of major arable agricultural products ...Download file to see next pagesRead More
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Brilliant paper! Used it to finish an assignment for a macro & microeconomics course. It was easy as ABC, for the first time in my life.
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