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Vertical Price Transmission of Milk Prices: Are Small Dairy Producers Efficiently Integrated Into Markets?

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  • Alejandro Acosta
  • Alberto Valdés

Abstract

ABSTRACT In recent years the dairy sector in Panama has experienced mergers and consolidations that have led to increases in industry concentration, a decrease in the number of producers, and an increase in the scale of operations. Small dairy producers have expressed concerns about the competitiveness of the dairy supply chain, arguing that price changes are not being transmitted efficiently from wholesalers to producer at the farm gate level. In this context, this study examines the degree of vertical price transmission between wholesalers and small dairy producers to assess the efficiency level of the dairy market chain in Panama. The findings of this research provide original and important contributions to the policy dialogue uncovering two key issues: 1) a unidirectional transmission of milk prices from producers to wholesaler, and 2) that the transmission of milk prices is asymmetric depending on whether prices are increasing or decreasing. [EconLit Classifications: Q11, Q13, Q18].

Suggested Citation

  • Alejandro Acosta & Alberto Valdés, 2014. "Vertical Price Transmission of Milk Prices: Are Small Dairy Producers Efficiently Integrated Into Markets?," Agribusiness, John Wiley & Sons, Ltd., vol. 30(1), pages 56-63, January.
    • Handle: RePEc:wly:agribz:v:30:y:2014:i:1:p:56-63
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    File URL: http://hdl.handle.net/10.1002/agr.21357
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    Cited by:

    1. Antonioli, Federico & Santeramo, Fabio, 2017. "Vertical Price Transmission in Milk Supply Chain: Market Changes and Asymmetric Dynamics," 2017 Sixth AIEAA Conference, June 15-16, Piacenza, Italy 261256, Italian Association of Agricultural and Applied Economics (AIEAA).
    2. Dennis Bergmann & Declan O’Connor & Andreas Thümmel, 2016. "An analysis of price and volatility transmission in butter, palm oil and crude oil markets," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 4(1), pages 1-23, December.
    3. Rachel Rose & Dimitrios Paparas, 2023. "Price Transmission: The Case of the UK Dairy Market," Commodities, MDPI, vol. 2(1), pages 1-21, March.
    4. Shen Liu & Jing Wang & Chen Sun, 2022. "Asymmetric Price Transmission and Market Power: A Case of the Aquaculture Product Market in China," Sustainability, MDPI, vol. 14(22), pages 1-13, November.
    5. Marwa Ben Abdallah & Maria Fekete Farkas & Zoltan Lakner, 2020. "Analysis of Dairy Product Price Transmission in Hungary: A Nonlinear ARDL Model," Agriculture, MDPI, vol. 10(6), pages 1-14, June.
    6. Alejandro Acosta & Rico Ihle & Stephan Cramon-Taubadel, 2019. "Combining market structure and econometric methods for pricetransmission analysis," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 11(4), pages 941-951, August.
    7. Monika Roman & Michał Roman, 2020. "Milk Market Integration between Poland and the EU Countries," Agriculture, MDPI, vol. 10(11), pages 1-17, November.
    8. Jaramillo-Villanueva, J.L. & Sarker, R. & Cabas-Monje, J. & Portilla-Duran, L., 2018. "Vertical and Spatial Price Transmissi n in the Mexican and International Milk Market," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277283, International Association of Agricultural Economists.
    9. Charlebois, Sylvain, 2016. "Policy-change Triggered Environmental Uncertainty in a Dairy Cooperative: The Case of Mila in South Tyrol," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 7(3), pages 1-13, July.

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