Food prices are one of the most important indicators, which play an important role in economic and political stability. Food prices depend on a variety of factors, including growth in demand (mainly from Asian countries), financial market speculations, export restrictions, weather shocks, productivity slow-down, currency depreciation, rising oil prices, biofuels demand, and decline of stocks. The recent pandemic became one of the most challenging factors for the global food market and substantially affected food prices.
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Azimzhan Khitakhunov is a research fellow at the Eurasian Research Institute. He has received his bachelor, master and Ph.D. degrees from Al-Farabi Kazakh National University (Ph.D. degree was completed in cooperation with the Johns Hopkins University, School of Advanced International Studies, Bologna, Italy). Currently, he is a senior lecturer at Al-Farabi Kazakh National University, Higher School of Economics and Business, Economics Department, where he teaches macroeconomics related disciplines. His research experience includes participation as a research fellow in the government financed f