Der Krieg in der Ukraine hat die seit zwei Jahren bestehende angespannte Versorgungslage auf den internationalen Agrarrohstoffmärkten nochmals verstärkt. Die Preise für Agrarrohstoffe, wie Getreide und Pflanzenöle, übersteigen schon seit Herbst 2021 die Hochpreisniveaus der Nahrungskrisen...

[Einleitung und Lernziele] Die Volatilität der Preise auf Agrarmärkten hat über lange Jahre kaum Aufmerksamkeit in der europäischen Agrarpolitik erfahren. Erst seit etwa zwei Jahrzehnten erhält dieses Thema auch in der EU wieder Aufmerksamkeit. Auf der internationalen Ebene hingegen war die...

[Einleitung und Lernziele] Die landwirtschaftliche Produktion ist die Grundlage der globalen Nahrungsmittelversorgung. Diese Produktion erfolgt in der Regel flächengebunden und damit dezentral. Landwirtschaftliche Güter müssen also transportiert werden, zum Ort der Verarbeitung und/oder zum...

This study examines the effect of the COVID-19 pandemic on major agricultural commodity prices (cattle, cocoa, coffee, corn, cotton, hog, rice, soya oil, soybeans, soybean meal, sugar and wheat) using daily data from February 28, 2020 to November 20, 2020. We measured COVID-19 effect using a...

This article offers a historical analysis of the contributions of U.S. interwar agricultural economics to the economics of information. Concerned with improving the circulation of information on agricultural markets, agricultural economists analyzed the relationship between agents’ information...

The stability of business in an economy has always been the primary goal that is difficult to achieve, and inflation is most often used as its basic indicator. It is a signal of change in the general price level. The paper analyzes inflation and prices of agricultural and food products as a...

Short-term forecasting is usually made in recent literature by modeling the spot price of commodities such as coffee and cattle with ARIMA models and in some articles including volatility models. Unlike such articles, herein the models of the spot price of coffee and cattle are estimated...

Market completeness has important implications for household behavior. I firmly reject complete markets for smallholders but am unable to do so for non-smallholders. This leads to important differences in production behavior: smallholders reallocate labor across activities less in response to...

Market completeness has important implications for household behavior. I firmly reject complete markets for smallholders but am unable to do so for non-smallholders. This leads to important differences in production behavior: smallholders reallocate labor across activities less in response to...

This paper contributes to the sparse empirical literature on measuring liquidity in agricultural land markets. Using data from Lower Saxony (Germany), we inspect the spatial and temporal variability of various liquidity indicators. We apply a panel vector autoregression (VAR) and Granger...

A considerable number of studies have examined the relationship between global prices and local prices in food-importing nations, but the linkages between international prices and the producer prices of large agricultural exporters have been largely ignored. This paper analyzes the connections...

Market completeness has important implications for household behavior. I firmly reject complete markets for smallholders but am unable to do so for non-smallholders. This leads to important differences in production behavior: smallholders reallocate labor across activities less in response to...

This article contributes to the existing empirical literature by examining the spillovers across price inflation and agricultural commodity prices for the case of Nigeria. To achieve this objective, we employ the Diebold and Yilmaz (Int J Forecast 28(1):57-66, 2012) spillover index....

Policy, administration and industry need medium-term projections of the expected developments in the agri-food markets for their decision-making processes. The EU Commission presents such projections for the EU as a whole in December of each year. Those projections and their assumptions...

The Chinese agri-food industry is evolving into an imperfectly competitive market in our observation. The issue deserves more attention from the policymakers since any negligible departure from the perfectly competitive market in agriculture would generate enormous extra profits for firms and...

Macroeconomists and growth economists often assume that the relative price of agriculture is determined domestically, and insulated from external forces. We examine this proposition empirically using panel data models with time effects and then an unobserved factor error structure. We find that...

This paper investigates the determinants of participation and performance of tobacco contract farmers, and the effects of participation on overall crop and household incomes in the Zambezi Valley of Mozambique. We test the existence of threshold effects in land holdings and educational...

Policy, administration and industry need medium-term projections of the expected developments in the agri-food markets for their decision-making processes. The EU Commission presents such projections for the EU as a whole in December of each year. Those projections and their assumptions...

Previous literature on price discovery in commodity markets is mainly focused on the question of whether the spot or the futures market dominates the price discovery process. Little attention, however, has been paid to the question of how the price discovery process is affected by futures...

This textbook addresses the core issues facing economists concerning price determination in commodity markets, especially food and agricultural commodities. This book hones in on the conceptual basis of the various relationships, with special emphasis on market interrelationships, both...

1. Introduction -- 2. Consumer Demand: Theory -- 3. Consumer Demand: Separability and Commodity Aggregation -- 4. Consumer Demand: Empirical Analysis I -- 5. Consumer Demand: Empirical Analysis II -- 6. Quality, Heterogeneous Goods, and Cross Section Demand -- 7. Derived Demand, Marketing...