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Milk Market (milk + market)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting66%

Selected Abstracts

External Transaction Costs and Large-scale Farming in Moscow Oblast Coûts de transaction externes et agriculture à grande échelle dans la région de Moscou Externe Transaktionskosten und landwirtschaftliche Großbetriebe in der Oblast Moskau

EUROCHOICES, Issue 2 2010
Nikolai SvetlovArticle first published online: 3 AUG 2010
Summary External Transaction Costs and Large-scale Farming in Moscow Oblast The article addresses the reasons for the domination of large-scale corporate farms in the Moscow oblast of Russia and concludes that high external transaction costs are likely to be an important determining factor. Over the nine year period studied, larger farms are shown to achieve higher performance. Increasing returns to scale, however, were not significant in explaining the superior performance of the larger farms. It is hypothesised that high external transaction costs due to lack of transparency in the milk market, typical of underdeveloped markets, give the larger farms a competitive advantage. Their search costs per unit of output are relatively low and they are able therefore to achieve higher farm-gate prices for milk as a result. The results confirm the dependence of the farm-gate milk price on farm size due to the presence of high transaction costs in the market of milk, the major output of the studied farms. The high performance farms were able to grow during the study period whereas the lower performing farms had limited growth capacity. A more competitive and transparent market environment along with improved infrastructure could lower transaction costs and entry barriers and provide opportunities for smaller scale corporate farms to compete more effectively. Cet article essaie d'expliquer les raisons de la domination des grandes exploitations agricoles constituées en société de la région de Moscou et conclut que l'ampleur des coûts de transaction externes est probablement un facteur explicatif important. Au cours de la période étudiée qui couvre neuf années, les exploitations les plus grandes ont enregistré les performances les plus élevées. Les rendements d'échelle croissants n'ont cependant pas expliqué de manière significative la meilleure performance de ces exploitations. Nous faisons l'hypothèse que les forts coûts de transaction externes liés au manque de transparence sur le marché laitier, typique des marchés incomplètement développés, donnent à ces plus grandes exploitations un avantage compétitif. Leur coût de recherche par unité de produit est relativement bas et elles sont donc capables d'obtenir des prix au niveau de la ferme plus élevés pour le lait. Les résultats confirment la dépendance des prix à la ferme envers la taille de l'exploitation du fait de la présence de coûts de transaction élevés sur le marché laitier, le lait étant le principal produit des exploitations étudiées. Les exploitations très performantes ont pu croître au cours de la période examinée tandis que les capacités de développement des exploitations les moins performantes étaient limitées. Un environnement de marché plus concurrentiel et transparent ainsi que de meilleures infrastructures pourraient réduire les coûts de transaction et les barrières à l'entrée dans le secteur, et fournir des opportunités aux exploitations constituées en société de plus petite taille d'être concurrentielles de manière plus efficace. Dieser Beitrag untersucht, weshalb es in der russischen Oblast Moskau hauptsächlich große Corporate Farms gibt, und kommt zu dem Schluss, dass dafür wahrscheinlich hohe externe Transaktionskosten ausschlaggebend sind. Über den neunjährigen Untersuchungszeitraum waren größere Betriebe erfolgreicher. Steigende Skalenerträge waren jedoch bei der Begründung für den höheren Erfolg der größeren Betriebe nicht maßgeblich. Es wird angenommen, dass hohe externe Transaktionskosten aufgrund von fehlender Transparenz auf dem Milchmarkt , typisch für unterentwickelte Märkte , den größeren Betrieben einen Wettbewerbsvorteil verschaffen. Ihre Suchkosten pro Produkteinheit sind relativ gering, daher sind sie in der Lage, höhere Preise für Milch ab Hof zu erzielen. Die Ergebnisse bestätigen die Abhängigkeit des Preises für Milch ab Hof von der Betriebsgröße, weil es auf dem Markt für Milch (dem wichtigsten Produkt der untersuchten Betriebe) hohe Transaktionskosten gibt. Den erfolgreichen Betrieben gelang es, über den Untersuchungszeitraum zu wachsen, während die leistungsschwächeren Betriebe nur eingeschränkt wachstumsfähig waren. Ein wettbewerbsfähigeres und transparenteres Marktumfeld in Kombination mit einer besseren Infrastruktur könnte die Transaktionskosten und Marktzugangsbeschränkungen senken sowie kleineren Corporate Farms Möglichkeiten eröffnen, um effektiver am Wettbewerb teilzunehmen. [source]

Demand for differentiated milk products: implications for price competition

AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 4 2009
Elena Lopez
The authors apply the Berry, Levinsohn, and Pakes (1995) model to scan data from Boston supermarkets augmented with consumer characteristics data to analyze consumer choices and price competition in a differentiated fluid milk market. Milk characteristics include price, fat content, brand name, and the organic and/or lactose-free nature of the product. Empirical results show that consumer valuation of fat decreases with income, but increases with the number of children. Low-fat and specialty milks, such as organic and lactose-free milks, are preferred by high-income consumers with no children. Although all milks are price elastic at the individual brand level, the cross-price elasticities are quite low and negligible for specialty milks. Based on calculated Lerner indexes, private label milks have the highest percent markups despite their lower prices, whereas specialty milks have the lowest markups despite their higher prices, which attests to a greater degree of market power for conventional and particularly for private label milk. [JEL Classification: D12, D40, L11, L81]. © 2009 Wiley Periodicals, Inc. [source]

Constrained price, address, or logit brand demand models: An econometric comparison in the Boston fluid milk market

AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 2 2005
Li Tian
This article estimates a general linear demand model for three fluid milk brands. It finds perverse signs and complementarity among these substitutes. We develop three constrained models to eliminate perverse signs: a price conduct constraint in the linear model that links private label and Garelick pricing, a generalized Mills address model, and the logit model. Statistical tests indicate that each of the three constrained models produces acceptable substitution patterns and that none is preferred to the other two. On nonstatistical grounds, however, the Mills and price-constrained models perform best. This is the first empirical study of the Mills address model of private-label pricing. Finally, we demonstrate that estimated price-reaction functions and the corresponding total elasticities, which capture only strategic non-collusive interaction in these Nash Bertrand models, provide interesting insight into competition among brands. EconLit citation: L670, L130.] © 2005 Wiley Periodicals, Inc. Agribusiness 21: 149,166, 2005. [source]

A comparative analysis of acceptance by Japanese females and price of goat milk from different sources

ANIMAL SCIENCE JOURNAL, Issue 2 2010
Takeyuki OZAWA
ABSTRACT A sensory survey was carried out using 4 different types of whole goat milk among middle-class females to investigate consumer acceptability of goat milk and whether there is an opportunity to expand the sale of goat milk products in Japan. Four different types of whole milk powder (domestic concentrate-fed, domestic pasture-fed, USA commercially canned, and New Zealand commercially canned) were used. Fresh cow milk was served as a control. Thirty-one housewives evaluated the 5 liquid milk samples for smell, taste and overall characteristics on a scale of 1 (low) to 3 (high). Chi-square analyses were carried out to detect significant differences between the milk types in each category. The goat milk from the USA was the most preferred goat milk with respect to smell and overall evaluation. Domestic pasture-fed milk received the lowest grade in the evaluation for its ,grassy and goaty' smell. This result shows us that pasture intake affects the taste and smell of powdered milk which gives the lowest evaluation by the participants. If Japanese goat milk producers want to be successful in the domestic goat milk market and compete against goat milk products from other countries, they should improve production methods and flavor of their products. [source]

Goat milk acceptance and promotion methods in Japan: The questionnaire survey to middle class households

ANIMAL SCIENCE JOURNAL, Issue 2 2009
Takeyuki OZAWA
ABSTRACT A consumer questionnaire conducted with the purpose of ascertaining the acceptability of goat milk and related products in Japan was carried out on 345 guarantees of Nippon Veterinary and Life Science University in December 2006. 275 effective responses (79%) representing middle class urban households were returned. The results revealed that (1) 30% of respondents have experienced drinking goat milk and only 10% are aware of the current retail situation of goat milk and related products; (2) over 70% of goat milk drinkers raised goats by hand at some point in their past and their first experience drinking goat milk was in infancy; (3) those with experience in drinking goat milk expressed a vague evaluation and minimal understanding of drinking goat milk; (4) respondents who were inexperienced goat milk drinkers expressed a strong desire to taste and a weak desire to purchase goat milk; (5) respondents expressed low recognition regarding retailed goat milk products, but those who had already purchased goat milk products expressed a high evaluation and strong desire to purchase these products again; and (6) recognition of goat milk characteristics is low, but those with high recognition also rate goat milk highly. Goats are perceived as being ,mild and familiar.' It is necessary for those who manage goat husbandry to present goat milk and related product tasting opportunities to consumers. The key point is to make the functional differences between cow and goat milk clear and present the advantages of goat milk at the fore of this promotion. Goat milk should not be promoted merely as a drink that is similar to cow milk, but must be positioned as a functional drink or health food in order to expand the Japanese goat milk market. [source]

Evaluating the effectiveness of generic advertising versus nonadvertising marketing activities on New York State milk markets

AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 3 2009
Yuqing Zheng
This study distinguishes nonadvertising marketing activities from generic advertising and investigates their separate impacts on the retail demand for fluid milk in New York State. Advertising, having an estimated elasticity (of demand) of 0.038 using panel data, is found to be about five times as effective as nonadvertising; therefore, it remains the more powerful marketing tool. Such results have policy implications in benefit-cost analysis and optimal allocation of fluid-milk check-off funds. Our results suggest that NYS dairy producers have much to gain from investing more of their check-off budgets in advertising. [EconLit citations: Q11, M37]. © 2009 Wiley Periodicals, Inc. [source]