We examine the value of terroir, which refers to the special characteristics of a place that impart unique qualities to the wine produced. We do this by conducting a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes, such as slope, aspect,...

This paper evaluates how different types of speculation affect the volatility of commodities' futures prices. We adopt four indexes of speculation: Working's T, the market share of non-commercial traders, the percentage of net long speculators over total open interest in future markets, which...

We estimate dynamic conditional correlations between 10 commodities futures returns in energy, metals and agriculture markets over the period 1998-2014 with a DCC-GARCH model. We look at the factors influencing those correlations, adopting a pooled mean group (PMG) estimator. Macroeconomic...

This paper analyses futures prices for four energy commodities (light sweet crude oil, heating oil, gasoline and natural gas) and five agricultural commodities (corn, oats, soybean oil, soybeans and wheat), over the period 1986-2010. Using CCC and DCC multivariate GARCH models, we find that...

Interactions between food demand, biomass energy and forest preservation are driving both food prices and land-use changes, regionally and globally. This study presents a new model called Nexus Land-Use which describes these interactions through a generic representation of agricultural...

We develop a structural econometric model to study the impacts of El Niño Southern Oscillation (ENSO) on Colombian coffee production, exports and price. Our empirical specification is consistent with an economic model of the coffee market that, in the short-run, is characterized by a...

With increasing farm distress in the wake of falling farm prices in 2017, the State Government of Madhya Pradesh (GoMP) came out with an innovative scheme called Bhavantar Bhugtan Yojana (BBY), a price deficiency payment (PDP) scheme, to support farmers. It covered eight Kharif crops in 2017-18...

Developments in international markets in recent years have transformed guar from a low value crop grown on marginal land to one that can generate substantial income for processors, manufacturers, traders and farmers. India's export of guar products, particularly guar gum powder, increased...

We present a Bayesian structural Vector Autoregressive model of the global wheat market to examine the relative importance of supply and demand shocks, which are interpreted as the fundamental driving forces of wheat price. To our knowledge, this is the first SVAR analysis that jointly considers...

Understanding the key trends and dynamics in the agricultural commodities market, especially for onions in developing countries, is critical for informed decision making and strategic planning. Onions are an important crop both domestically and in the global market, with factors such as timing...