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Price changes of dairy products in the European Union

Author

Listed:
  • Aneta Bełdycka-Bórawska

    (Department of Agrotechnology and Agribusiness, Faculty of Agriculture and Forestry, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland)

  • Piotr Bórawski

    (Department of Agrotechnology and Agribusiness, Faculty of Agriculture and Forestry, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland)

  • Marta Guth

    (Department of Macroeconomics and Agricultural Economics, Institute of Economics, Poznań University of Economics and Business, Poznań, Poland)

  • Andrzej Parzonko

    (Department of Economics and Organization of Enterprises, Faculty of Economic Sciences, Warsaw University of Life Science (SGGW), Warsaw, Poland)

  • Tomasz Rokicki

    (Department of Logistics, Faculty of Economic Sciences, Warsaw University of Life Science (SGGW), Warsaw, Poland)

  • Bogdan Klepacki

    (Department of Logistics, Faculty of Economic Sciences, Warsaw University of Life Science (SGGW), Warsaw, Poland)

  • Marcin Wysokiński

    (Department of Logistics, Faculty of Economic Sciences, Warsaw University of Life Science (SGGW), Warsaw, Poland)

  • Agnieszka Maciąg

    (Department of Logistics, Faculty of Economic Sciences, Warsaw University of Life Science (SGGW), Warsaw, Poland)

  • James William Dunn

    (Department of Agricultural Economics, Sociology and Education, Faculty of Agricultural Sciences, Pennsylvania State University, University Park, Pennsylvania, USA)

Abstract

This article presents changes in the prices of milk and other dairy products in the European Union (EU). First, the descriptive statistics of the prices of milk and dairy products are presented, and then correlation and regression analyses were conducted to measure the relationships between the prices. We used the augmented Dickey-Fuller (ADF) test and generalised autoregressive conditional heteroscedasticity (GARCH) model to measure the stationarity and changes in dairy product prices in the EU. At the EU level, we checked the changes in prices of butter, skim milk powder, whole milk powder, Cheddar, Edam, Gouda, Emmental and whey powder. Our analysis confirmed that the butter, skim milk powder, whole milk powder, Cheddar, Edam and Gouda processes depend on previous values. The biggest price changes were observed in whey powder (34.12%), butter (24.46%) and skim milk powder (21.78%).

Suggested Citation

  • Aneta Bełdycka-Bórawska & Piotr Bórawski & Marta Guth & Andrzej Parzonko & Tomasz Rokicki & Bogdan Klepacki & Marcin Wysokiński & Agnieszka Maciąg & James William Dunn, 2021. "Price changes of dairy products in the European Union," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 67(9), pages 373-381.
    • Handle: RePEc:caa:jnlage:v:67:y:2021:i:9:id:61-2021-agricecon
    DOI: 10.17221/61/2021-AGRICECON
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