ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION

Authors

  • Lucas Siqueira de Castro Universidade Federal de Viçosa

DOI:

https://doi.org/10.19094/contextus.v14i3.850

Keywords:

Vegetable Oils, Transmission, Feed, Vector Error Correction Model.

Abstract

This study analyzed the elasticity of price transmission in the soybean oil market for palm oil, sunflower and canola from October 1997 to September 2016. From the concepts of the theories of the relevant market and market integration, it were estimated an error-correction models (VEC) for palm, sunflower and canola oils. The results showed that in the long term, the markets palm, sunflower and colza oils are integrated with that of soybean oil, thus being substitutes. The impulse response functions indicated that unanticipated changes in soybean oil prices are not dissipated for other vegetable oils. The decomposition of the variance of the palm, sunflower and canola oils showed that in the last analyzed month, soybean oil accounted for 62.36%, 55.12% and 44.76% of their prices.

Author Biography

Lucas Siqueira de Castro, Universidade Federal de Viçosa

Doutorando em Economia Aplicada no Departamento de Economia Rural da UFV

 

http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4338231U6

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USDA – United States Department of Agriculture. Economics, Statistics and Market Information System, 2016. Disponível em: <http://usda.mannlib.cornell.edu/MannUsda/ viewDocumentInfo.do?documentID=1490>. Acesso em: 20 nov. 2016.

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Published

2016-12-24

How to Cite

de Castro, L. S. (2016). ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION. Contextus - Contemporary Journal of Economics and Management, 14(3), 79–93. https://doi.org/10.19094/contextus.v14i3.850

Issue

Vol. 14 No. 3: set/dez 2016

Section

Articles

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