Prices of Major Food Fats and Oils Closely Related

George W. Kromer

No 319944, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: Wholesale prices of the major food fats—soybean oil, cottonseed oil, and lard—generally move together and, except for short time variations, their relationships to each other tend to hold constant. This "togetherness" of these prices reflects primarily the high degree of substitution and interchangeability of the three fats in manufactured food products. When one of the three get out of line with the other two competitive fats in the general price structure, manufacturers who use that fat in their products switch to a lower priced substitute fat to as great an extent as possible. There are many uses made of these food fats but the more important are in margarine, shortening, and cooking and salad oils.

Keywords: Demand and Price Analysis; Marketing; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 12
Date: 1961-09
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:319944

DOI: 10.22004/ag.econ.319944

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