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In response, General Mills announced a cereal price increase in June and raised prices on Yoplait in July.
From an empirical viewpoint it provides an assessment of how the cereal price spikes of 2007 2008 and the global recession of 2008 2009 have impacted the welfare of Syrian households and how did they compound with the on-going agricultural sector liberalisation implemented by the Government of Syria since mid 1990s.
The international cereal price index enters the short run food price model positively and is significant in the fifth month.
For purposes of this paper, we use the international cereal price index given that cereals are the more traded food items for Uganda.
Other variables used in the analysis include: nominal exchange rate (XRATE); international cereal price index (CEREAL), real output (GDP), rainfall (RAINAN) and temperature (TEMPAN) anomalies, international oil prices (CRUDE) and domestic oil prices (AGO).
Where lfood is the natural logarithm of the food price index; lxrate is the natural logarithm of the nominal exchange rate, and lcereal is the natural logarithm of the international cereal price index.
Similar(49)
Cereal prices rose 1 percent, and the food agency forecast a decline in global cereal production this year.
Cereal prices, after a few good harvests, have already started to decline.
General Mills cited rising ingredient costs when it increased cereal prices last June.
Cereal prices soared from 1980 to 1993, rising more than the general inflation rate every year.
The drought has also decimated livestock, while cereal prices have soared.
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CEO of Professional Science Editing for Scientists @ prosciediting.com