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59 - World Wheat Price Volatility (November 2012) Wyatt Thompson, Garry Smith, Armelle Elasri
This study complements OECD analyses on commodity price volatility by providing quantitative assessments of the impact of two structural changes that a number of market observers have identified as contributing to world wheat market price volatility. The factors examined relate to changes in demand in the large emerging countries of the BRICs (comprising Brazil, the Russian Federation, India and China), as a result of continuing economic growth and development and the effect of a lower levels of global wheat stocks in recent years.
A further scenario extends the analysis of the role of stocks in price volatility by examining some effects of a hypothetical international buffer stockholding scheme to stabilise international wheat prices.
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Previous papers:
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