Pricing-to-Market Analysis: The Case of EU Wheat Exports

P.J. Dawson, Matthew Gorton, Lionel Hubbard and Carmen Hubbard

No 212044, 2015 Conference, August 9-14, 2015, Milan, Italy from International Association of Agricultural Economists

Abstract: The EU is a major player in the global wheat market. This paper examines the pricing behavior of EU wheat exporters using a pricing-to-market (PTM) analysis. Wheat is an exemplary product for testing PTM theories as it is widely and frequently traded, and it is largely unbranded. We estimate the relationship between export unit values and exchange rates using quarterly panel data for 11 export destinations for 2000- 2013. Results show that there is a meaningful long-run relationship between export unit values and exchange rates, but there is little evidence of differential mark-ups between export markets. Belarus and Iceland are exceptions where the EU exercises local currency price stabilization.

Keywords: Agricultural Finance; Crop Production/Industries (search for similar items in EconPapers)
Pages: 20
Date: 2015
New Economics Papers: this item is included in nep-agr and nep-int
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Journal Article: Pricing-To-Market Analysis: The Case of EU Wheat Exports (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae15:212044

DOI: 10.22004/ag.econ.212044

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