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The dynamics of farm milk price formation in Brazil

Author

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  • Siqueira, Kennya Beatriz
  • Kilmer, Richard L.
  • Campos, Antonio Carvalho

Abstract

Dairy is a highly relevant segment of the Brazilian agribusiness economy. However, this segment has changed significantly after deregulation Thus, it is worthwhile to know what the changes are in the spatial integration of the market and in milk price formation at the farm level after deregulation. The methodology is a modification of Gonzalez-Rivera & Helfand (2001), which is compounded in extension of the market, pattern of integration, and degree of integration. The extension of the market is determined through the measure of self-sufficiency index, unit root test, and Johansen test. The last one is focused on the searching for a common trend between the time series. The pattern of interdependence is studied using the Directed Acyclic Graph (DAG). Lastly, the degree of integration is measured by the impulse response functions derived from the Bernanke decomposition. As a result, we found that the milk market in Brazil is composed by Goiás, Mato Grosso, Mato Grosso do Sul, Minas Gerais, Paraná, Rio de Janeiro, Rio Grande do Sul, Santa Catarina, and São Paulo. We also discovered that these markets have small speed of adjustment to shocks and there is no leader in milk price formation.

Suggested Citation

  • Siqueira, Kennya Beatriz & Kilmer, Richard L. & Campos, Antonio Carvalho, 2010. "The dynamics of farm milk price formation in Brazil," Brazilian Journal of Rural Economy and Sociology (Revista de Economia e Sociologia Rural-RESR), Sociedade Brasileira de Economia e Sociologia Rural, vol. 48(1), pages 1-21, March.
    • Handle: RePEc:ags:rdecag:150197
    DOI: 10.22004/ag.econ.150197
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    Cited by:

    1. Ebata, Ayako & Velasco, Pamela & von Cramon-Taubadel, Stephan, 2015. "Distance to market and farm-gate prices of staple beans in rural Nicaragua," GlobalFood Discussion Papers 197540, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
    2. Ebata, Ayako & Pacheco, Pamela Alejandra & Cramon-Taubadel, Stephan von, 2015. "Distance to market and farm-gate prices of staple beans in rural Nicaragua," 2015 Conference, August 9-14, 2015, Milan, Italy 211582, International Association of Agricultural Economists.

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    Keywords

    Agribusiness;

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