Price Determinants and Interactions Specifics in Beef Production in Bulgaria

A major component of the supply function - product price - is dissuasive for the Bulgarian beef producers and the authors set the objective to examine the price determinants considering price determination (market) and price manifestation (transaction) as two interconnected concepts. The trend of prices and price ratio in Bulgarian beef production are studied as well as the leading factors determining the level and dynamics of procurement prices for the period 2008-2016, using economic-statistical analytical methods and models: the assessment of the price and income elasticity by applying the model by Workman, King, Hooper; cointegration model is applied for determining correlation between the beef wholesale and retail prices on one hand and on another hand the correlation between procurement and retail prices. The descriptive decomposition of the price determination and price manifestation is conducted. Conclusion about the main price features of Bulgarian beef market are presented and their key factors, as well as proposals for solving the adverse effects