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Spatial Price Transmission of Soaring Milk Prices From Global to Domestic Markets

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  • Alejandro Acosta
  • Rico Ihle
  • Miguel Robles

Abstract

ABSTRACT Milk has become one of the most volatile agricultural commodities in the international market. High volatility of commodity prices and their implications for food security are clearly among the most important issues facing policy makers today. Thus, a deeper understanding of the magnitude, speed, and symmetry to which global milk prices are being transmitted to domestic prices at the farm gate level is a fundamental factor in the design of appropriate policy measures oriented to reduce not only the level of milk price volatility, but also poverty and food insecurity. The purpose of this article is therefore to assess the dynamics of the relationship between global and domestic milk prices. [Econ Lit Classifications: Q11, Q13, Q17].

Suggested Citation

  • Alejandro Acosta & Rico Ihle & Miguel Robles, 2014. "Spatial Price Transmission of Soaring Milk Prices From Global to Domestic Markets," Agribusiness, John Wiley & Sons, Ltd., vol. 30(1), pages 64-73, January.
    • Handle: RePEc:wly:agribz:v:30:y:2014:i:1:p:64-73
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    File URL: http://hdl.handle.net/10.1002/agr.21358
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    1. Piotr Borawski & Marta Guth & Wojciech Truszkowski & Dagmara Zuzek & Aneta Beldycka-Borawska & Bartosz Mickiewicz & Elzbieta Szymanska & Jayson Kennedy Harper & James William Dunn, 2020. "Milk price changes in Poland in the context of the Common Agricultural Policy," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 66(1), pages 19-26.
    2. Dennis Bergmann & Declan O’Connor & Andreas Thümmel, 2016. "An analysis of price and volatility transmission in butter, palm oil and crude oil markets," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 4(1), pages 1-23, December.
    3. Huidan Xue & Chenguang Li & Liming Wang, 2021. "Spatial Price Dynamics and Asymmetric Price Transmission in Skim Milk Powder International Trade: Evidence from Export Prices for New Zealand and Ireland," Agriculture, MDPI, vol. 11(9), pages 1-20, September.
    4. Zhepeng Hu & B. Wade Brorsen, 2017. "Spatial Price Transmission and Efficiency in the Urea Market," Agribusiness, John Wiley & Sons, Ltd., vol. 33(1), pages 98-115, January.
    5. Fabio Gaetano Santeramo & Emilia Lamonaca, 2019. "On the drivers of global grain price volatility: an empirical investigation," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 65(1), pages 31-42.
    6. Hana Doležalová & Kamil Pícha & Josef Navrátil & Aneta Bezemková, 2014. "Factors That Influence the Selling of Milk Through Milk Vending Machines," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 62(4), pages 641-650.
    7. Djuric, Ivan & Götz, Linde & Svanidze, Miranda & Glauben, Thomas, 2018. "Agricultural Market Integration in the Commonwealth of Independent States: What Are the Main Driving Forces and Challenges?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 139-160.
    8. Monika Roman & Michał Roman, 2020. "Milk Market Integration between Poland and the EU Countries," Agriculture, MDPI, vol. 10(11), pages 1-17, November.
    9. Carlotta Penone & Elisa Giampietri & Samuele Trestini, 2022. "Futures–spot price transmission in EU corn markets," Agribusiness, John Wiley & Sons, Ltd., vol. 38(3), pages 679-709, July.
    10. Monika Roman, 2020. "Spatial Integration of the Milk Market in Poland," Sustainability, MDPI, vol. 12(4), pages 1-17, February.
    11. Mu, Y., 2018. "Pork price transmission and efficiency in China," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277387, International Association of Agricultural Economists.
    12. Antonioli, Federico & Santeramo, Fabio, 2017. "Vertical Price Transmission in Milk Supply Chain: Market Changes and Asymmetric Dynamics," 2017 Sixth AIEAA Conference, June 15-16, Piacenza, Italy 261256, Italian Association of Agricultural and Applied Economics (AIEAA).
    13. Patrick L. Hatzenbuehler & Xiaoxue Du & Kathleen Painter, 2021. "Price transmission with sparse market information: The case of United States chickpeas," Agribusiness, John Wiley & Sons, Ltd., vol. 37(3), pages 665-682, July.
    14. Aaron Grau & Heinrich Hockmann, 2018. "Market power in the German dairy value chain," Agribusiness, John Wiley & Sons, Ltd., vol. 34(1), pages 93-111, December.
    15. Grau, Aaron Stephan Alexander & Hockmann, Heinrich, 2017. "Estimating oligopsony power on two vertically integrated markets," 2017 International Congress, August 28-September 1, 2017, Parma, Italy 261277, European Association of Agricultural Economists.
    16. Hillen, J., 2018. "Protecting the Swiss milk market from foreign price shocks: Public border protection vs. quality differentiation," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 276015, International Association of Agricultural Economists.
    17. Alejandro Acosta & Rico Ihle & Stephan Cramon-Taubadel, 2019. "Combining market structure and econometric methods for pricetransmission analysis," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 11(4), pages 941-951, August.
    18. Fabio Gaetano Santeramo, 2015. "Price Transmission in the European Tomatoes and Cauliflowers Sectors," Agribusiness, John Wiley & Sons, Ltd., vol. 31(3), pages 399-413, June.
    19. Schulte Hinrich & Musshoff Oliver, 2019. "Market Structure of the Feed Industry in Germany: Causing Asymmetric Spatial Price Transmission?," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 17(1), pages 1-11, May.

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