several market distortions and mounting fiscal costs. Wheat and rice supply strongly and significantly respond to the minimum … wheat, the influence of subsidised wheat is much less pronounced, probably due to weaker functioning of the PDS for this … grain. The public stock analysis suggests higher storage losses for rice (10 per cent) than for wheat (2 per cent). Public …

We present a Bayesian structural Vector Autoregressive model of the global wheat market to examine the relative … importance of supply and demand shocks, which are interpreted as the fundamental driving forces of wheat price. To our knowledge … opposite in signs (0.19 for supply and -0.20 for demand); (ii) the price and the inventories respond to global wheat market …