More science behind food policy

The EU-funded project 'Understanding and coping with food markets volatility towards more stable world and EU food systems' (ULYSSES) is conceived as a response to the 2007–2009 food crisis. With increased price volatility and market instability, higher commodity prices and intense globalisation of food markets, this research addresses international community concerns.


One of the project's main objectives is to manage information on prices volatility of food, feed and non-food commodities. The researchers are analysing historical data to study market fundamentals, drivers and impacts. Along with a thorough evaluation of all current knowledge, the causes of market volatility are being identified, with efforts being undertaken to estimate and project its impacts.


ULYSSES tackles food prices volatility from four different viewpoints: different time frames, type of commodity, geographical scope and position in the market chain. All of this is in relation to the impact of price levels on EU consumers and households in selected developing countries, value chains and new policy approaches. The commodity categories include internationally traded food and non-food, and fresh or non-fresh consumer products.


Project members have completed a dissemination plan that includes its website. All completed documents, scientific papers and policy briefings have been uploaded to the relevant web page. These research materials have also been disseminated through ULYSSES's Twitter account (@ULYSSES7FP) and through the 'ecoagra' list.


The first international seminar was held in Madrid in March 2014, with a great success in terms of turnout and follow up. All papers and presentations are available. This event was followed up by another international seminar held in Rome, organised by FAO on 11 February 2015.  ULYSSES researchers presented the most recent work, and a panel discussion with representatives of the main Rome-based organizations.


ULYSSES continues to work on a review of the methods and results of price volatility. It is updating the methodological and policy conclusions as new literature, findings and data for publication are discovered. The main goal continues to be obtaining robust results on the issue of price volatility, and providing multiple results from alternative methods, databases, countries, types of commodities and levels in the value chain.


This research is contributing to a better understanding of market dynamics and discussion of risk management policy tools in the Common Agricultural Policy (CAP) post-2020. It continues to stimulate informed discussions and policy recommendation debate in international forums dealing with price volatility and development of new policy tools.


Most work has already been finished and is available to the general public at ULYSSES’ webpage.