Transmission of climate shocks to livestock prices in regulated and unregulated markets: Evidence for raw milk in Colombian tropical livestock

Andrés Mauricio Vargas Pérez, José Luis Ramos Ruiz and Sadan Alexander De la Cruz Almanza

Economia Agraria y Recursos Naturales, 2024, vol. 24, issue 01

Abstract: [EN] This research investigates the impact of climate variability on the price trend of raw milk in Colombia, which is traded in regulated and unregulated markets. The findings indicate that climate variations do not affect the regulated price, whereas the unregulated market shows an asymmetric price response. The price increase is more significant than a favorable event in an adverse shock, such as a drought. This may clarify why small-scale producers tend to favor this market despite receiving lower prices on average for their raw milk. [ES] Se examinan los efectos de la variabilidad climática sobre la tendencia de los precios de la leche cruda en Colombia, la cual se negocia en dos mercados: regulado y no regulado. Los resultados muestran que el precio regulado no responde a las variaciones climáticas, mientras que en el mercado no regulado la respuesta es asimétrica. El incremento frente a un choque adverso es de mayor magnitud, en contraste con un evento favorable. Esto podría ayudar a explicar por qué los pequeños productores muestran preferencia por este mercado.

Keywords: Community/Rural/Urban Development; Environmental Economics and Policy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:earnsa:344094

DOI: 10.22004/ag.econ.344094

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