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Demand for Milk

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  • Street, J.A.

Abstract

The consumer demand for fresh wholemilk in the Sydney region is analysed by single equation regressions of time series data. The explanatory variables of the regressions are income, milk price, advertising, seasonal dummies, age distribution of the population, consumption of substitutes and complements, and a dummy variable for strikes and flood interference with distribution. These variables are regressed on consumption per head using either weekly or quarterly data. The weekly model was estimated with allowance for auto correlated disturbances and the quarterly model was estimated using Almon polynomials to represent lag distributions of "real and/or money" variables. Results indicate that consumption is best explained by a relatively small set of variables, in particular-age distribution of the population and a lag distribution of real prices.

Suggested Citation

  • Street, J.A., 1974. "Demand for Milk," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(02), pages 1-14, June.
    • Handle: RePEc:ags:remaae:9637
    DOI: 10.22004/ag.econ.9637
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    References listed on IDEAS

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    1. A. De Janvry & J. Bieri & A. Nuñez, 1972. "Estimation of Demand Parameters under Consumer Budgeting: An Application to Argentina," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(3), pages 422-430.
    2. George, P.S. & King, Gordon A., 1971. "Consumer Demand for Food Commodities in the United States with Projections for 1980," Monographs, University of California, Davis, Giannini Foundation, number 11936, December.
    3. T.J. Mules, 1972. "A Supply Function For Dairy Products," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 16(3), pages 195-203, December.
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    Cited by:

    1. McKenzie, C. C. & Nieuwoudt, W. L., 1985. "Estimation Of Demand And Supply Functions For Fresh And Industrial Milk In South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 24(2), October.
    2. Richardson, Robert A., 1976. "Structural Estimates Of Domestic Demand For Agricultural Products In Australia: A Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 44(03), pages 1-30, September.

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    Keywords

    Demand and Price Analysis;

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