Aspects of Food Security, Energy Security, and Environment: A Macroeconomic Approach to Sustainability
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This study employed the use of cluster analysis to analyze the price relationship between food, energy, and carbon emission in 18 selected countries categorized into five clusters based on their major primary energy sources namely RES, Oil, Nuclear, Coal, and Natural gas. The result of the analysis revealed the relationship between food and energy prices. Notably, the nuclear and RES clusters identified with low carbon energy sources recorded the highest energy prices in transportation and electricity, also the highest food price index was observed in the nuclear cluster while the RES cluster also scored higher food prices compared to their fossil counterparts like coal and natural gas. Summarily the study found that low-carbon energy clusters have higher food prices and energy prices compared to high-carbon energy clusters.