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Assessing Interdependencies Between Food and Energy Prices: The Case of Biodiesel in Germany

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  • Lajdová, Zuzana
  • Kapusta, Jaroslav
  • Bielik, Peter

Abstract

The paper aims to analyse the relationship between energy prices (biodiesel, crude oil) and food commodities - vegetable oils used also as feedstock for biodiesel production. The econometric technique of price transmission, such as unit root test, cointegration test and vector error correction model, is applied to assess the interdependencies between energy prices and vegetable oil prices in Germany. Results suggest close price linkages between prices of vegetable oils and biodiesel and confirm that the vegetable oil prices drive the price dynamics of biodiesel. However, the simultaneous relationship is only revealed between biodiesel and soybean oil prices. The increase in crude oil prices is found to lead to an upward trend in the vegetable oils used for biodiesel production, thus influencing biodiesel prices as well.

Suggested Citation

  • Lajdová, Zuzana & Kapusta, Jaroslav & Bielik, Peter, 2017. "Assessing Interdependencies Between Food and Energy Prices: The Case of Biodiesel in Germany," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 9(3), September.
    • Handle: RePEc:ags:aolpei:263956
    DOI: 10.22004/ag.econ.263956
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    References listed on IDEAS

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    1. Mohcine Bakhat & Klaas WŸrzburg, 2013. "Price Relationships of Crude Oil and Food Commodities," Working Papers fa06-2013, Economics for Energy.
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    Cited by:

    1. Declerck, Francis & Hikouatcha, Prince & Tchoffo, Guillaume & Tédongap, Roméo, 2023. "Biofuel policies and their ripple effects: An analysis of vegetable oil price dynamics and global consumer responses," Energy Economics, Elsevier, vol. 128(C).
    2. Petr Procházka & Luboš Smutka & Vladimír Hönig, 2019. "Using Biofuels for Highly Renewable Electricity Systems: A Case Study of the Jatropha curcas," Energies, MDPI, vol. 12(15), pages 1-17, August.

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    Keywords

    Demand and Price Analysis;

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