The long established link between food and oil prices in the global market is\nstill uncertain in cross-country, regional and domestic analyses. In this paper,\nwe review theoretical and empirical submissions on the nexus between food\nand oil market. Qualitative content analysis was used to critically analyze concepts\nand theories based on the past empirical evidences. The analysis shows\nthat there is hardly a consistent and generalized submission on the direction\nof the relationship between oil price and agricultural commodity prices, as\nagainst the popular notion of co-movement between food and oil prices among\nresearchers. However, studies on cross country analysis are scarce and among\nthem, very few are related to oil exporting countries, hence the need to revisit\nthe unending debate on the relationship between the two important markets\nbased on economic structure (oil exporting/importing economy), capacity of\nan economy (high/low income economy) and the causes and nature of crisis\nin the markets.
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