Examination of market structure in selected livestock agri-food chains in the Czech Republic
2012
Rumankova, L., Ceska Zemedelska Univ., Prague (Czech Republic). Katedra Ekonomiky
This paper deals with the most important livestock agri-food chains (pork, beef, poultry, milk) in the Czech Republic and with the evaluation of vertical price transmission. The agri-food chains are examined generally from May 2004 to June 2011 using time series. The time series of selected variables contain biweekly, monthly or annual data and, according to data availability, a different number of observations within the selected period. The first part of the paper is focused on a descriptive analysis of the selected agri-food chains. Long-term developments and short-term fluctuations in production, supply and consumption are the main factors which influence price level. The second part of the paper is focused on the relationship between farm-gate and wholesale prices. Multivariate time series analysis is employed, namely the VAR and VECM models. Based on the empirical analysis, it could be concluded that the assumed long-term relationship was not confirmed for any of the analyzed agri-food chains. On the other hand, imperfect competition was confirmed; even its form may differ among the analyzed agri-food chains. However, generally speaking, wholesalers have a stronger position than farmers.
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