FROM PRODUCER TO CONSUMER – RELATIONS BETWEEN PRICES OF SELECTED PRODUCTS ON THE AGRI-FOOD MARKET
Abstract
The food supply chain is characterized by a large diversity of entities comprising it, combining actions taken by individual links, starting with the producer on the consumer. The primary goal of the smooth functioning of the food supply chain is to ensure satisfaction of buyers, while profiting by companies participating in the flow of products. The primary aim of the efficient functioning of the food supply chain is to ensure satisfaction of buyers, while profiting by companies participating in the flow of products. Changes occurring in agricultural production, often cyclical, are transferred to individual links in the supply chain. This phenomenon is visible in changes in the level of prices as well as in dependencies between the price levels in individual links in the chain. Prices are the most dynamic element of the market, and the subject of volatility and price transmission has always been the subject of theoretical considerations and empirical market analysis. The main aim of this paper is to analyze the price transmission process. This analysis will cover the study of the existing relationships between the prices of selected agri-food products in individual links of the supply chain and the determination of their direction. In addition, the analyzes will be supplemented with the assessment of price growth in real and nominal terms at individual stages of the supply chain. The occurrence of transmission of price impulses in the study of these relationships will be helpful by the Granger causality test and VAR models, for which the model's compliance with the theory of economics is not required. The time range of analyzes covers the years 2010-2017.
Keywords
agri – food market; Granger test; price transmission
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University of Opole, Faculty of Economics, Department of Econometrics and Quantitative Methods. Poland
https://orcid.org/0000-0001-6217-8822
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