Asymmetric impacts of Crude Oil Price on Agricultural Commodities during the Russian-Ukrainian Crisis

Hocine TRARI-MEDJAOUI; Ettayib MEZOURI

Authors

Hocine TRARI-MEDJAOUI University of Oran2, Faculty of Economics, Lameor-Lab, Algeria. Author
Ettayib MEZOURI University of Relizane, Faculty of Economics, Lameor-Lab, Algeria. Author

Keywords:

Agricultural Commodities market, Crude Oil Price, quantile NARDL analysis, Russian-Ukrainian Crisis

Abstract

The Russia-Ukrainian war, originating in 2014 and escalating to the Russian invasion in 2022, has significantly impacted Europe's political, economic, and financial stability, exacerbated by the deep crisis arising from energy and food dependence.The aim of this article is to verify the existence of a link between the crude oil price on agricultural commodities (maize, soybeans, wheat, and sugar), two different time periods, before and after the Ukraine-Russia crunch, period from January 1, 2019 to January 30, 2021, and the second one covers the Russia-Ukraine Crunch period from January 1, 2022 to December 1, 2023. Through a quantile NARDL analysis, a link is sought asymmetric impacts of crude oil price on agricultural commodities markets.The study confirms that crude oil prices impact agricultural commodities (maize, soybeans, wheat, and sugar) during the Russian-Ukrainian Crisis.

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