In some studies, it is found out that the local agricultural
commodity prices do not respond to the world oil prices (for
example, Zhang and Reed, 2008; Mutuc et al., 2010, Nazlioglu and
Soytas, in press). Even though the local prices are not sensitive to
the world oil prices, there may be price transmissions from the
global agricultural commodity prices to the local prices. The
causal linkages from the world oil prices to global commodity
prices provide room to examine whether the changes in the world
agricultural commodity prices last into the local agricultural
commodity prices. Therefore, future studies can focus on this
issue within the context of linear and nonlinear econometric
methods.