On what Factors the Wheat Production and Price Depends
Gábor Gyarmati ()
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Gábor Gyarmati: Óbuda University
from Óbuda University, Keleti Faculty of Business and Management
Wheat is a basic cereal in the catering in Europe. There are a lot of factors which can affect the price and quantity of this crop. The experts need to understand the main factors of price and quantity changes. The aim of this article is to find what factors can affect the price and production of wheat. Why is it so important and useful? With the knowledge of these factors, we can predict the volume and price of wheat based on explanatory variables. If these explanatory variables change, the characteristics of wheat would change expectedly. Using international and Hungarian bank, statistical, price data to find these factors, and some basic statistical methods (mainly correlation analysis) this paper examines the main factors influenced. The hypothesis of the article is that oil price, exchange rates, transportation, population increase, climate change are some of the main factors which can affect the question of this grain. The cost of transportation influences the price of wheat and there are some links between the characteristics of wheat and factors examined. The most significant factors are oil price, increase of population, and ruin of soils. The world commercial has to take into account these changes in the wheat markets. Preventing the ruin of soils is standard protocol for wheat production, but how to deal with an increasing population is a much more complex question.
Keywords: wheat production; effects; prices (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pkk:meb017:78-96
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