Evaluation the relationshipbetween Ukrainian rapeseed prices andcrude oil prices
Abstract
In the article is analysed the linkage between Ukrainian rapeseed prices andcrude oil prices. To find such connection dynamic causal model was implied, where results stated that by the change on 1% of oil prices, Ukrainian rapeseed prices change by 0.01%. One of the factor that determines the relationship among agricultural and energy market is biofuel development worldwide that is considered in the paper.
Forecast of Ukrainian rapeseed prices showed that these prices will slightly fluctuate and increasing until the December 2018, which is quite possible due to the turbulence situation on agricultural markets.
Key words: rapeseed prices, crude oil prices, dynamic causal model, biofuels, forecastReferences
Beckman J.F. A. Borchers, C. Jones, 2013 Agriculture’s Supply and Demand for Energy and Energy Products / J.F. Beckman, A. Borchers, C. Jones // Economic Research Service Economic Information Bulletin, USDA. - №112. – 2013. - 35 p.
Dawe D., Doroudian A. A simple price monitoring tool to assess monthly changes in food prices/ D. Dawe, A. Doroudian[Electronic source] / Access: http://www.fao.org/3/a-am241e.pdf
Dodder R.S., ElobeidA., Timothy L. Johnson, P. Ozge Kaplan, Lyubov A. Kurkalova, Silvia Secchi, and SimlaTokgoz. Environmental Impacts of Emerging Biomass Feedstock Markets: Energy, Agriculture, and the Farmer / R.S. Dodder, A. Elobeid, T. L. Johnson, P. O. Kaplan, L.A. Kurkalova, S.Secchi, S.Tokgoz // Working Paper 11-WP 526, Center for Agricultural and Rural Development, Iowa State University. - 2011. - 14 p.
Hamulczuk M. Essential econometric methods of forecasting agricultural commodity prices / M., Hamulczuk, S. Grudkowska, S. Gedek, C. Klimkowski, S. Stanko // Institute of Agricultural and food economics, National Research institute. – 2013. - №90.1. - 182 p.
Hamulczuk M. Response of the Polish Wheat Prices to the World's Crude Oil Prices / M. Hamulczuk, C. Klimkowski// ActaOeconomica et Informatica. - Volume 15. - №2. - p. 50-56.
Hertel T. Commodity price volatility in the biofuel era: an examination of the linkage between energy and agricultural markets /T. Hertel, J. Beckman // Paper №16824[Electronic source] / Access: http://www.nber.org/papers/w16824
Kong M. Interrelationship and Volatility Transmission between Grain and Oil Prices / M. Kong, D.B. Han, R.M. Nayga // Selected Paper prepared for presentation at the Agricultural & Applied Economics Association’s 2012 Annual Meeting, Seattle, Washington, August 12-14. – 2012. - 13 p.
Patton M. Impact of Alternative Crude Oil Prices on the UK Liquid Biofuel and Agricultural Markets / M. Patton, I.S. Kim, L. Zhang, J. Davis // Final Report - FAPRI-UK Project, University of Missouri. – 2012. - 28 p.
Downloads
Published
Issue
Section
License
Relationship between right holders and users shall be governed by the terms of the license Creative Commons Attribution – non-commercial – Distribution On Same Conditions 4.0 international (CC BY-NC-SA 4.0):https://creativecommons.org/licenses/by-nc-sa/4.0/deed.uk
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
