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Price behaviour in the US sweetener market: a cointegration approach

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Author Info

  • Charles Moss
  • Andrew Schmits

Abstract

The sweetener market in the United States is complicated because of the substitution possibilities between high fructose corn syrup (HFCS) and sugar. This study focuses on the relationship between raw sugar prices and the prices for high fructose corn syrup. Sugar and HFCS are imperfect substitutes for several industrial uses. Sugar can be used for all industrial uses, but HFCS has limited uses. This study uses cointegration analysis to examine the relationship between sugar and HFCS prices as well as the relationship between raw and refined sugar prices over time. The results indicate that sugar and HFCS prices move together for the 1983-1996 period. However, after this time period HFCS prices no longer follow sugar prices.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840110088128
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 34 (2002)
Issue (Month): 10 ()
Pages: 1273-1281

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Handle: RePEc:taf:applec:v:34:y:2002:i:10:p:1273-1281

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Cited by:
  1. Lee, Dae-Seob & Kennedy, P. Lynn, 2005. "Demand behavior of U.S. high fructose corn syrup (HFCS) and its implication for the U.S. sweetener market: a cointegration analysis," 2005 Annual meeting, July 24-27, Providence, RI 19564, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. Marzoughi, Hassan & Kennedy, P. Lynn & Hilbun, Brian M., 2008. "Impact of Corn Based Ethanol Production on the U.S. High Fructose Corn Syrup (HFCS) and Sugar Markets," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6792, Southern Agricultural Economics Association.
  3. Babula, Ronald A. & Newman, Douglas & Rogowsky, Robert A., 2006. "A Dynamic Model of U.S. Sugar-Related Markets: A Cointegrated Vector Autoregression Approach," Journal of Food Distribution Research, Food Distribution Research Society, vol. 37(02), July.

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