Do commodity markets support the circular economy? Evidence from agri-food companies

Bibliographic Data

ID21294833
AuthorsGabriele Casalino (0009-0004-3671-9145, Center for Economics and Corporate Sustainability (CEDON), KU Leuven Department of Economics), Luca Bellardini (0000-0002-8585-8668, University of Catania Department of Economics and Business)
Year2026
Volume128
Issue5
Pages2008-2023
Publication date2026-04-09
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueBritish Food Journal (JOURNAL)
Journal identifiersISSN: 0007-070X • E-ISSN: 1758-4108
PublisherEmerald (PUBLISHER)
DOI10.1108/bfj-08-2025-1016
OpenAlexW7117294221
LanguageEN
References cited42

Purpose This study aims to investigate the relationship between the dynamics of agricultural commodity markets and the circular transition of publicly listed commodity-producing companies. It explores how commodity market dynamics influence the adoption of circular practices by these companies. Design/methodology/approach A panel dataset consisting of the 60 largest publicly listed companies in the agricultural sector worldwide was selected, with yearly observations spanning from 2018 to 2022. A circular performance in Agri-food-Corporate-level Indicator (CPA-CI) was computed to assess the circularity level of these companies. Both corporate and market variables were then analysed to explain the observed changes in circular performance using panel fixed effect regression techniques. Findings The results reveal significant insights into the interplay between agricultural commodity markets and corporate circular practices. The findings highlight that commodity markets contribute to the circular transition of these companies, affecting the way they adopt more circular practices. Research limitations/implications This research focuses on the agri-food companies; moreover, certain aspects of circularity are not fully captured by the ESG framework. Once data become more widely available, further research might consider an extended timespan and additional sectors. Originality/value This study contributes to the Circular Finance literature by analysing the agricultural sector's specificities. It investigates whether market-based factors, such as commodity market dynamics, affect the circular transition at the corporate level. It provides a deeper understanding of the forces driving the adoption of circular practices by firms and the overall transition to a sustainable economy

Agriculture · Circular economy · Commodity · Panel data · Sustainability · Transition (genetics) · Bioeconomy and Sustainability Development · Global trade, sustainability, and social impact · Sustainable Supply Chain Management

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