Relationship Between Prices of Food, Fuel and Biofuel

Ladislav Krištoufek (), Karel Janda and David Zilberman

No 135793, 131st Seminar, September 18-19, 2012, Prague, Czech Republic from European Association of Agricultural Economists

Abstract: In this paper, we analyze the relationships between the prices of biodiesel, ethanol and related fuels and agricultural commodities with a use of minimal spanning trees and hierarchical trees. To distinguish between short-term and medium-term effects, we construct these trees for different frequencies (weekly and monthly). We find that in short-term, both ethanol and biodiesel are very weakly connected with the other commodities. In medium-term, the biofuels network becomes more structured. The system splits into two well separated branches – a fuels part and a food part. Biodiesel tends to the fuels branch and ethanol to the food branch. As a part of this paper we also characterize the major biofuels and their agricultural feedstock and we outline their recent quantitative development.

Keywords: Agribusiness; Agricultural and Food Policy (search for similar items in EconPapers)
Pages: 19
Date: 2012-09-18
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaa131:135793

DOI: 10.22004/ag.econ.135793

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