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Author(s): Martin Richer, Eva Richterová, Elena Hošková, Iveta Zentková

Title: Relationship between Prices on Individual Levels of Milk Food Vertical

Source: International Scientific Days 2018 :: Towards Productive, Sustainable and Resilient Global Agriculture and Food Systems :: Proceedings

ISBN: 978-80-7598-180-6


Publisher: Wolters Kluwer ČR, Prague

PY, pages: 2018, 2685-2694

Published on-line: 2018-11-09

Language: eng

Abstract: The aim of the paper is to find out the relationship between milk prices on individual levels of its food vertical in Slovak republic, i.e. as milk price on one level of milk food vertical influences the price on the other level of the same vertical. Logarithmic regression analyses with corrected heteroscedasticity and autocorrelation is used to observe the relationship between prices of milk on its individual vertical levels. All estimated logistic regression models were statistically highly significant and all possible variations of primary milk production prices, milk processor prices and retail prices were provided. In case one of the variables was not statistically significant, new observation without not significant independent variable was conducted. Except of one observation with unit elasticity, all other observations revealed inelasticity in elasticity of price transmission between individual milk food vertical prices. This fact indicates that prices at individual levels of the milk food vertical are not distributed proportionally and the price change on one vertical level is not fully reflected on to other lever of milk food vertical.

Keywords: milk, milk price, food vertical, regression analyses, elasticity of price transmission

JEL Classification: A1, A10 l, C01

Rights:Open Access :: Creative Commons BY-NC-SA 4.0 International Licence
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Toto dielo je publikované pod/This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Licence.