Main determinants of supply and demand on world sugar market
2013
Smutka. L., Czech Univ. of Life Sciences, Prague (Czech Republic). Faculty of Economics and Management | Rumankova, L., Czech Univ. of Life Sciences, Prague (Czech Republic). Faculty of Economics and Management | Pulkrabek, J., Czech Univ. of Life Sciences, Prague (Czech Republic). Faculty of Agrobiology, Food and Natural Resources | Benesova, I., Czech Univ. of Life Sciences, Prague (Czech Republic). Faculty of Economics and Management
The paper analyses the main factors influencing global sugar supply and demand. The main determinants of global sugar supply, demand and price development are identified and then their influence on selected variables is quantified. The analysis of main determinants' influence on global supply, demand and price development is conducted on the base of selected time series including data for the period 1961-2010. The relations are quantified using the regression analysis (power function). The results of the analysis show that among the significant determinants (they are significant from both economic and statistical point of view) of sugar supply are reserves, sugar price in previous period and sugar cane production. The main determinants of global sugar demand are sugar price and GDP (for the purpose of the analysis we took into consideration global GDP and global GDP/cap). Individual determinants of global sugar price are also defined but the quantitative analysis proves that the only significant determinant of global sugar price development is sugar price in previous period.
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