Assessing the role of global food commodity prices in achieving the 2030 agenda for SDGs

Abstract

Summary: Food plays a vital role in human sustenance and well-being, and the fluctuations in its price exert a significant impact on the attainment of the Sustainable Development Goals (SDGs) from social, economic, and environmental perspectives. This paper conducts an analysis utilizing data from 163 countries, revealing that an upsurge in global food commodity prices entails trade-offs with 13 SDGs, while exhibiting synergies with a few others. By considering specific food products, various types of countries, and the supply and demand shocks, further analysis confirms predominantly negative associations between spikes in food prices and the SDGs. Our findings highlight the urgent imperative to mitigate abrupt increases in food prices, such as those witnessed during the 2022 food crisis, to ensure the comprehensive fulfillment of the 2030 agenda for SDGs.

Keywords

• Agricultural resource economics
• Food economics