Agric. Econ. - Czech, 2018, 64(5):216-226 | DOI: 10.17221/138/2016-AGRICECON

Price volatility of Polish agricultural commodities in the view of the Common Agricultural PolicyOriginal Paper

Piotr BORAWSKI*,1, Aneta BELDYCKA-BORAWSKA1, James W. DUNN2
1 University of Warmia and Mazury in Olsztyn, Poland
2 Pennsylvania State University, Old Main, Pennsylvania, USA

In the paper, the price volatility was examined. The authors used 650 weekly observations from 2003 to 2015. Such a long period of analysis helped to reveal periods with high volatility. The objective of the paper was to recognize price volatility of agricultural commodities in Poland. The authors chose beef, pork and wheat markets to show the differentiation of price volatility. It revealed periods of large and small volatility. The global market situation impacted Polish agricultural markets with the opening markets and a greater access to the new markets. The periods having the strongest impact on Polish agricultural markets were the integration with the EU, the global crisis in 2008, and problems in the EU zone. The prices of analysed agricultural commodities differed in various EU countries. The prices of wheat increased most in France, Hungary and Lithuania. The prices of store cattle increased most in the years 2004-2015 in Estonia, Sweden and Luxemburg. The prices of pigs increased most in Malta, Sweden and Cyprus.

Keywords: commodity markets, price volatility, CAP

Published: May 31, 2018  Show citation

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
BORAWSKI P, BELDYCKA-BORAWSKA A, DUNN JW. Price volatility of Polish agricultural commodities in the view of the Common Agricultural Policy. Agric. Econ. - Czech. 2018;64(5):216-226. doi: 10.17221/138/2016-AGRICECON.
Share...
Download citation
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Open full article

    References

    1. Ávalos-Sartorio B. (2006): What can we learn from past price stabilization policies and market reform in Mexico? Food Policy, 31: 313-327. Go to original source...
    2. Bakucs Z., Fertő I. (2015): Empirical tests of sale theories: Hungarian milk prices. Agricultural Economics - Czech, 61: 511-521. Go to original source...
    3. Bórawski P., Gotkiewicz W., Dunn J.W., Alter T. (2015): The impact of price volatility of agricultural commodities in Poland on alternative incomes of conventional, ecological and agritourism farms. Athens Journal of Business and Economics, 1: 299-310. Go to original source...
    4. Bórawski P., Dunn W J. (2015): Differentiation of milk production in European Union countries in the aspect of common agricultural policy. Roczniki Naukowe SERiA, XVII, z. 2.
    5. Bórawski P., Dunn J.W. (2014): Conditioning of milk market development in Poland with particular regard paid to price volatility. Economic Science for Rural Development, 35: 88-96.
    6. Bórawski P., Kwiatkowski J. (2007): The impact of European Union integration on volatility of Polish agriculture commodity price. In: Welfe W., Welfe A.(eds): Macromodels. Wyd. Absolwent, Łódź: 103-120.
    7. Bórawski P., Gotkiewicz W. (2012): Factors contributing to the multifunctional development of rural areas in the opinion of farms with alternative sources of income. In: Bórawski P. (ed.): Multifunctional development of rural areas: International Experience. Wyd. WSES, Ostrołęca.
    8. Cereals Market (2015): Instytut Ekonomiki Rolnictwa i Gospodarki Żywnościowej - PIB, Warszaw.
    9. Cummings R., Rashid S., Gulati A. (2006): Grain price stabilization experiences in Asia: What have we learned? Food Policy, 31: 302-312. Go to original source...
    10. Figiel S., Hamulczuk M. (2014): Measuring price risk commodity markets. Olsztyn Economic Journal, 5: 380-394. Go to original source...
    11. Figiel S., Scott T. (1997): The Impact of Government Policies on the Relationship between Polish and World Wheat Prices. Panos Varangis-World Bank.
    12. Gozgor G., Kablamachi B. (2014): The linkage between oil and agricultural commodity prices in the light of the perceived global risk. Agricultural Economics - Czech, 60: 332-342. Go to original source...
    13. Hamulczuk M., Stańko S. (2009): Ekonomiczne skutki likwidacji kwot mlecznych w Unii Europejskiej-wyniki symulacji z wykorzystaniem modelu AGMEMOD. Zagadnienia Ekonomiki Rolnej, 4: 9-20.
    14. Han J.H., Ahn B.I. (2015): Multiple-regime price transmission between wheat and wheat flour prices in Korea. Agricultural Economics - Czech, 61: 552-563. Go to original source...
    15. Kenémy G., Fogarasi J., Varga T., Tóth O., Tóth K. (2012): Internal wheat price volatility and the increasing export of Russia, Kazakhstan and Ukraine. Paper presented for the 123 EAAE seminar, Dublin, Feb. 23-24, 2012: 1-9.
    16. Kiryluk-Dryjska E., Baer-Nawrocka A. (2010): Wpływ akcesji do Unii Europejskiej na poziom i relacje cenowe w rolnictwie polskim (analiza długookresowa). Zeszyty Naukowe SGGW w Warszawie. Ekonomika i Organizacja Gospodarki Żywnościowej, 85: 59-60. Go to original source...
    17. Łapińska A. (2012): Funding allocated to rural development in the financial frameworks of the European Union. In: Bórawski P. (ed.): Multifunctional development of rural areas: International Experience. Wyd. WSES w Ostrołęce.
    18. Meat Market (2015): Instytut Ekonomiki Rolnictwa i Gospodarki Żywnościowej - PIB w Warszawie.
    19. Meijl H. van, Tongeren F. van (2002): The Agenda 2000 CAP reform, world prices and GATT-WTO export constraints. European Review of Agricultural Economics, 29: 445-470. Go to original source...
    20. Mitra S., Boussard J-M. (2012): A simple model of endogenous agricultural commodity price fluctuation with storage. Agricultural Economics, 43: 1-15. Go to original source...
    21. Nogueira L., Barichello R.R., Baylis K., Chauinard H.-H. (2012): Policy risk in the Canadian dairy industry. Applied Economic Perspectives and Policy. 34: 147-166. Go to original source...
    22. Otsuki T., Wilson J.S., Sewadeh M. (2001): What price precaution? European harmonisation of aflatoxin regulations and African groundnut exports. European Review of Agricultural Economics, 28: 263-284. Go to original source...
    23. Poulton C., Kydd J., Wiggins S., Dorward A. (2006): State intervention for food price stabilization in Africa: Can it work? Food Policy, 31: 342-356. Go to original source...
    24. Puślecki Z., Kmieciak R., Walkowski M. (2010): Wspólna Polityka Rolna w warunkach wzrostu konkurencyjności Unii Europejskiej. Dom Wydawniczy ELIPSA, Warszawa.
    25. Radukic S., Marković M. (2015): Limitation of trade margins as a measure of food price controls: experience of Serbia. Economics of Agriculture, 62: 193-205. Go to original source...
    26. Rude J., Gervais J.-P. (2009): Biases in calculating dumping margins: the case of cyclical products. Review of Agricultural Economics, 31: 122-142. Go to original source...
    27. Rytko A. (2012): Wspólna Polityka Rolna i jej efekty po wdrożeniu reformy z 2003 roku. Zeszyty Naukowe SGGW w Warszawie Polityki Europejskie, Finanse, Marketing, 57: 392-401. Go to original source...
    28. Spychalski G. (2012): Rozwój zrównoważony obszarów wiejskich w kontekście ewolucji Wspólnej Polityki Rolnej UE. Zeszyty Naukowe SGGW w Warszawie Polityki Europejskie, Finanse, Marketing, 57: 412-424. Go to original source...
    29. Wilkin J. (2011): Przyszłość wspólnej polityki rolnej Unii Europejskiej - próba podsumowania dyskusji. Wieś i Rolnictwo, 150: 28-36. Go to original source...
    30. Winter-Nelson A., Temu A. (2005): Impacts of prices and transactions costs on input usage in a liberalizing economy: evidence from Tanzanian coffee growers. Agricultural Economics, 33: 243-253. Go to original source...
    31. Żmija J., Czekaj M. (2012): Wspólna Polityka Rolna a rozwój drobnych gospodarstw rolnych. Zeszyty Naukowe SGGW w Warszawie Polityki Europejskie, Finanse, Marketing, 57: 518-527. Go to original source...

    This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International (CC BY NC 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.


    Return to the content