Red Meat Price Spikes in Turkey
This article addresses the recent red meat price spikes in Turkey. Most arguments point to impacts of low milk prices leading to liquidation of dairy herds, and big retailers’ market power exertion. Because credible quantity data are lacking, we concentrate on price transmission along the beef marketing channel. The results reveal a differential impact on producers and retailers; price adjustment is asymmetric and bi-directional (i.e., both cost and demand driven) with price margins widening. The problem may be concentration and market power, specifically at the retail level, but due to lack of quantity data that cannot be determined with certainty.
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