Dairy Farmersa Welfare Losses from Farm-to-Retail Milk Price Adjustments: Highlight on Market Integration and Price Transmission

Mazhir Nadeem Ishaq

Dairy Farmersa Welfare Losses from Farm-to-Retail Milk Price Adjustments: Highlight on Market Integration and Price Transmission

Mazhir Nadeem Ishaq * §

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§ Northeast Agriculture University

Dairy Farmersa Welfare Losses from Farm-to-Retail Milk Price Adjustments: Highlight on Market Integration and Price Transmission

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Abstract

This study was carried out in four districts of Punjab province of Pakistan with a focus to examine milk market integration, price adjustments and price spreads in short-run and long-run equilibrium for fluid milk. Price transmission describes how a price change at one level of market chain corresponds to another level. Vector Error Correction Model (VECM) was applied to estimate the symmetry of price transmission. Monthly average prices of milk producer and consumer covering the period from 2010 to 2016 were used in the empirical analysis. Seasonality was an important factor in milk production and was kept in account. Stationarity between farm and retail prices was examined through Augmented-Dicky Fuller (ADF) test whereas, the nature of long-term co-integration among price series was estimated by Johansen co-integration test.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Mazhir Nadeem Ishaq. 2016. "Dairy Farmersa Welfare Losses from Farm-to-Retail Milk Price Adjustments: Highlight on Market Integration and Price Transmission". Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 16 (GJMBR Volume 16 Issue B7).

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GJMBR Volume 16 Issue B7

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-B Classification JEL Code: M20

Submission ReceivedDecember 14, 2015
Peer Review Double Blind
Handling Editor
Accepted December 31, 2015
Published January 15, 2016

Version of record

v1.2

Issue date

December 20, 2016

Language

English

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Article Matrices

Total Score: 180

Country: China

Subject: Global Journal of Management and Business Research

Authors: Mazhir Nadeem Ishaq, Li Cui Xia, Rukhsana Rasheed (PhD/Dr. count: 0)

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