Impact of Oil Prices on World Food Prices

Food price

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Concept of demand and supply analysis......................................................................................6
Impacts of other factors like substitutes and complementary goods on demand and world food
price.............................................................................................................................................7
Concept of elasticity of demand and supply................................................................................7
REFERENCES..............................................................................................................................11

INTRODUCTION
. In this report will be discussion on the important commodity potato which is working as
balanced nutrition’s and fourth important crop in the world. there will be discussion on different
relevant data for last 10 years. Beside this report will have discussion on the linkage between
food prices and oil process in specific manner. On the other hand, there will be variety of factors
which are impacting on world food prices looking at the important concept of demand and
supply, elasticity of demand and supply along with varsity of substitute goods.
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MAIN BODY
Potato as food commodity
. On the other hand, it is important and leading vegetable crop in the United States. It is
important to note that in the area of Idaho and Washington are able to get in produce of there
more than half annual supply totalled up as the 442 million cwt in year 2017. This have been
slightly up from the previous years which have been valued as $3.77 billion. On the other hand,
the average prices of the potato in year 2017 have been $9.10 per cwt, was up $0.02 from 2016.
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