Assigning Price Leadership in Iran Tea Grades Market
Journal Title: International Research Journal of Applied and Basic Sciences - Year 2013, Vol 6, Issue 8
Abstract
Tea commodity basket is composed of different grades that complicate the policy making and providing optimal programs for controlling and regulating the price in market. By regarding quality difference of tea grades, use of various qualitative baskets and use of leader grade in market, are the two main ways in regulating tea market. For having a good way that is based on pricing relations for regulating tea market, in this article by using monthly data of retail price of 3 grades in Iran's market (premium, broken, whole) between years 1992 to 2012, investigating long run relationship in tea's price system has been considered. Using cointegration test, long run relations in mentioned time period had been inspected. Applying even cointegration test showed that high quality tea had long run relation with broken and whole grades. At last, by use of adjustment matrix and weak exogeneity test, it is revealed that no price leadership exit in tea market. So, separate policy making and production programming for each grade is necessary in Iran's tea market.
Authors and Affiliations
Sayed Mousa Ziahessam| Department of Agricultural Management, Islamic Azad University, Rasht Branch, Rasht, Iran., Gholamreza Peykani| Department of Agricultural Economics, Tehran University, Tehran, Iran, Mohammad Kavoosi Kalashami| Department of Agricultural Economics, Guilan University, Rasht, Iran, email: mkavoosi@ut.ac.ir, Jafar Azizi| Department of Agricultural Management, Islamic Azad University, Rasht Branch, Rasht, Iran.
Keywords
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