Price transmission and food security in the light of recurring food crises

Oman has for long maintained a state of trade-based food security, relying heavily on international markets to meet its food needs. Heavy dependence on food imports leaves the country vulnerable to supply chain disruption and global markets instability. The global food crisis of 2018 and the recent covid-19 pandemic and the Russian-Ukrain war have exemplified the threat of food shortage, and imported price inflation. Therefore, understanding the price transmission mechanisms in food markets is of interest to all parties involved in the food supply chain, which policymakers should be particularly aware of. This research aims to understand the co-movement dynamics across time-frequency space and causal relationships between different food commodity markets with implications to Oman food security.