SABIIA - Sistema Aberto e Integrado de Informação em Agricultura (Sabiia)

Horizontal Price Transmission of the Finnish Meat Sector with Major EU Players

Jalonoja, Kati; Liu, Xing; Pietola, Kyosti.

This paper estimates market integration between the Finnish and German pork and beef markets. An econometric error correction model that allows for threshold effects and asymmetric price response is estimated. The data are weekly price observations during the period of 1995-2004. Each price series have 520 observations. The results suggest that the Finnish beef prices are stationary and they are not co-integrated with the German price. Thus, the domestic and imported beef may be treated as different goods by consumers. The pork prices are integrated of the first order I(1) and they are also co-integrated. The threshold effects are significant and the price adjustment process is asymmetric, but slow in all regimes. The price transmission process has...

Tipo: Working or Discussion Paper

Palavras-chave: Demand and Price Analysis.

Ano: 2006

URL: http://purl.umn.edu/11861

The integration of the Finnish meat market in the EU has important implications for domestic agricultural policy. Our aim is to estimate the characteristics of the Finnish pork and beef markets in relation to those of Germany and Denmark. Our analysis uses symmetric and asymmetric threshold error correction models. Both pork and beef prices in Finland are found to have slowly cointegrated with German prices, but the cointegration relationship of the two counties is only found to be symmetric for pork prices, while it is asymmetric for beef prices. The producer price for pork in Finland is symmetrically cointegrated with the Danish price, but the Finnish and Danish beef prices show a random walk. This implies that the price transmission to the Finnish pork...

Testing market efficiency of crude palm oil futures to European participants

Palavras-chave: Cointegration; Asymmetric; Error correction; Thresholds; Pork and beef prices; Demand and Price Analysis; Livestock Production/Industries.

Ano: 2011

URL: http://purl.umn.edu/114380

Palm oil is the most consumed and traded vegetable oils in the EU and the world. Increasing non-food uses for vegetable oils in especially feedstock of biofuels in recent years have caused the price volatility to rise in both EU and global market. The most efficient pricing of crude palm oil (CPO) is to found on Bursa Malaysia (BMD), and it provides by far the world’s most liquid palm oil contract. The goal of this study is to investigate CPO futures market efficiency of BMD for the European participants whose delivery location in EU. Both Johanson cointegration test and Vector Error Cointegration Mechnism (VECM) are conducted to test long-run and short-run efficiency test for the European spot market and four different futures forecasting horizons that...

Testing for signals on oligopolistic behaviour – case of Finnish and German pork meat price

Palavras-chave: CPO; BMD; Efficiency; Futures; Cointegration; VECM.; Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety.

Ano: 2009

URL: http://purl.umn.edu/58085

Market integration of Finland toward EU has important implication to domestic agricultural policy. Our aim is to estimate the characteristics of the Finnish pork markets in relation to Germany. Our analysis use symmetric and asymmetric threshold error correction models. Pork prices are found cointegrated, and cointegration relationship of two counties is found asymmetric. A large positive shock in Germany is transmitted faster to Finland than a large negative one. It implies that a combination of cooperative processors and public quoted companies as in Finland, can smooth out some of the short term price fluctuations observed abroad.

Impact and competitiveness of EU biofuel market – First view of the prices of biofuel market in relation to the global players

Palavras-chave: Cointegration; Asymmetric; Error correction; Agricultural and Food Policy; Marketing.

Ano: 2008

URL: http://purl.umn.edu/44248

The goal of this study is to investigate the price relationship of EU biofuel market with other main markets in both horizontal level and vertical level. We first carry out Granger causality between ethanol price of EU, USA and Brazil. Secondly, we use vecto error cointegration Mechnism (VECM) to test the relationship between three selected vegetable oil prices in EU to see the competive potential of EU rapeseed oil compared with imported crude palm oil and soybean oil as the feedstock of biodiesel. Evidence shows that there is a unidirectional Granger causation from both USA and Brazil to EU market. USA price of ethanol is the most influential among the three price series, and EU has the least influence on the contrary. It indicates that it is very...

Horizontal price transmission of the Finnish meat sector with major EU players

Palavras-chave: Ethanol; Vegetable oils; Feedstock; Directives; VECM; Granger causality; Crop Production/Industries; International Relations/Trade; Research and Development/Tech Change/Emerging Technologies.

Ano: 2008

URL: http://purl.umn.edu/6501

Price volatility and return on pig fattening under different price- quantity contract regimes

Tipo: Working or Discussion Paper

Palavras-chave: Cointegration; Asymmetric; Error correction; Thresholds; Pork and beef prices; Agribusiness; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; International Relations/Trade.

Ano: 2011

URL: http://purl.umn.edu/100215

Niemi, Jarkko K.; Liu, Xing; Pietola, Kyosti.

The goal of this study is to estimate how different price or quantity fixing contracts affect the value of pig space unit in pig fattening. The value of pig space unit is estimated with a stochastic dynamic programming algorithm. The model maximises the value of pig space unit by using four decision variables. The input-output ratios are endogenous and the option to suspend production temporarily is taken into account in the model. The results suggests that the smooth functioning of markets in Finland can be promoted by ensuring that price changes are transmitted smoothly between input and output markets, and that producers are compensated for giving up the option to suspend production temporarily in the event if unfavourable market situation. Instead of...