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Price interrelationships in the vegetable and tropical oils market


  • A. D. Owen
  • K. Chowdhury
  • J. R. R. Garrido


The 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.

Suggested Citation

  • A. D. Owen & K. Chowdhury & J. R. R. Garrido, 1997. "Price interrelationships in the vegetable and tropical oils market," Applied Economics, Taylor & Francis Journals, vol. 29(1), pages 119-124.
  • Handle: RePEc:taf:applec:v:29:y:1997:i:1:p:119-124
    DOI: 10.1080/000368497327470

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    References listed on IDEAS

    1. Amjad, Rashid, 1984. "The management of Pakistan's economy 1947-82," MPRA Paper 35850, University Library of Munich, Germany.
    2. Amjad, Rashid, 1987. "Human resource development: the Asian experience in employment and manpower planning - an overview," MPRA Paper 38135, University Library of Munich, Germany.
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    Cited by:

    1. Ubilava, David & holt, Matt, 2013. "El Ni~no 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), June.
    2. 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.
    3. 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).

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