Price interrelationships in the vegetable and tropical oils market
AbstractThe relationship between vegetable and tropical oils prices is investigated utilizing a vector autoregressive approach. Despite the apparent similarities between these oil prices in terms of their general pattern of movement over time, the relationships were not found to be strong enough to label them as 'cointegrated series'. Further analysis indicates that substitution relationships appear to drive price movements in the short run, while market-based structural factors for each of the oils are important elements in the price formation process in the long run.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 29 (1997)
Issue (Month): 1 ()
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- David Ubilava & Matt Holt, 2013. "El Niño southern oscillation and its effects on world vegetable oil prices: assessing asymmetries using smooth transition models," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(2), pages 273-297, 04.
- Campiche, Jody L. & Bryant, Henry L. & Richardson, James W. & Outlaw, Joe L., 2007. "Examining the Evolving Correspondence Between Petroleum Prices and Agricultural Commodity Prices," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9881, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Peri, Massimo & Baldi, Lucia, 2010. "Vegetable oil market and biofuel policy: An asymmetric cointegration approach," Energy Economics, Elsevier, vol. 32(3), pages 687-693, May.
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