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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Asymmetric price transmission and market concentration: an investigation into four South African agro-food industries
Authors:Cutts, MichelaISNI
Kirsten, JohannISNI
Periodical:South African Journal of Economics
Geographic term:South Africa
food prices
agricultural market
External link:https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2006.00064.x/pdf
Abstract:This paper analyses four of the major agro-food supply chains in South Africa. The aim of the analysis is to determine the degree of asymmetric price transformation within these chains. These findings should highlight the degree of uncompetitive behaviour and concentration in the chains. The agro-food supply chains investigated are the chains of maize to maize meal; wheat to bread; sunflower seed to cooking oil; and the milk producer to fresh and long-life milk. The paper specifically seeks to show how market concentration increases the degree of asymmetry by comparing different levels of asymmetry between commodity and retail prices in the South African economy. The results show that in South Africa industries that are considered to be concentrated at some level show a high degree of asymmetric price transmission which, however, decreases when the retail product is perishable. Bibliogr., sum. [Journal abstract]