Agric. Econ. - Czech, 2021, 67(3):111-119 | DOI: 10.17221/459/2020-AGRICECON

Price volatility of milk and dairy products in Poland after accession to the EUShort Communication

Piotr Bórawski ORCID...*,1, Marta Guth2, Andrzej Parzonko3, Tomasz Rokicki4, Aleksandra Perkowska4, James William Dunn5
1 Department of Agrotechnology and Agribusiness, Faculty of Agriculture and Forestry, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland
2 Department of Macroeconomics and Food Economics, Institute of Economics, Poznañ University of Economics and Business, Poznañ, Poland
3 Department of Economics and Organization of Enterprises, Faculty of Economics, Warsaw University of Life Science - SGGW, , Warszaw, Poland
4 Department of Logistics, Institute of Economics and Finance, Warsaw University of Life Sciences, Warszaw, Poland
5 Department of Agricultural Economics, Sociology and Education, Faculty of Agricultural Sciences, Pennsylvania State University, Pennsylvania, USA

Milk and dairy products help meet the nutritional needs of the population. The main goal of this research was to analyse price volatility of milk and dairy products in Poland after accession to the European Union (EU). Price is the main economic influencer. We used 161 monthly observations from 01. 2007 to 05. 2020 to analyse the price changes. To measure the volatility, we have used Augmented Dickey-Fuller test (ADF test), Autoregressive-Moving-Average model (ARMA model), and Granger test. Our research confirmed high volatility of milk and dairy products prices. The ARMA model confirmed that the dairy product prices are stationary. Milk, butter and Gouda cheese are also useful for forecasting.

Keywords: factors; milk market; stationarity

Published: March 19, 2021  Show citation

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Bórawski P, Guth M, Parzonko A, Rokicki T, Perkowska A, Dunn JW. Price volatility of milk and dairy products in Poland after accession to the EU. Agric. Econ. - Czech. 2021;67(3):111-119. doi: 10.17221/459/2020-AGRICECON.
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