Definition
Food commodity markets are socioeconomic institutions, often located in specific geographical places. They are specialized in the exchange of agricultural products, such as staple crops (e.g., grains), animals (e.g., poultry), and animal products (e.g., butter). The exchanges are completed through financial transactions, such as futures contracts and options contracts.
Introduction
Food commodity markets are socioeconomic institutions that “encompass specific social, legal, and political processes that enable economic transactions, but also extend far beyond them” (Bestor 2001, p. 9227). After 2009 financial market crisis, which also impacted and created instability on food price trends on a global level, the public debate started looking at how the market of food products had been structured and strongly financialized. International institutions, such as FAO (2018b), pointed out at the risks...
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Fontefrancesco, M.F. (2019). Food Commodity Market: History and Impact of Food Trading Toward SDG2. In: Leal Filho, W., Azul, A., Brandli, L., Özuyar, P., Wall, T. (eds) Zero Hunger. Encyclopedia of the UN Sustainable Development Goals. Springer, Cham. https://doi.org/10.1007/978-3-319-69626-3_13-1
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