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Bonar Marulitua Sinaga
Program Studi Ekonomi Pertanian, Fakultas Ekonomi dan Manajemen, Institut Pertanian Bogor
Agriculture, Biological Sciences & Forestry Economics, Econometrics & Finance

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PRICE TRANSMISSION OF SKIM MILK POWDER IN INDONESIA: DO SKIM MILK POWDER IMPORT PRICES FOLLOW THE PRICES IN NEW ZEALAND? Venty Fitriany Nurunisa; Bonar Marulitua Sinaga; Ratna Winandi; Bernhard Brummer
Forum Agribisnis Vol 4 No 2 (2014): FA Vol 4 No 2 September 2014
Publisher : Magister Science of Agribusiness, Department of Agribusiness, FEM-IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/fagb.4.2.171-192

Abstract

The objectives of this research are i) to examine New Zealand's dairy sector and ii) to analyze the market integration and price transmission of Skim Milk Powder (SMP) of New Zealand and Indonesian market. The methods used are Augmented Dickey Fuller test, Johansen Cointegration test, and Vector Error Correction Model. The result indicates: 1) as trade partner, New Zealand is powerful due to its status as the largest dairy producer worldwide; therefore, Indonesia has less bargaining power and 2) The SMP market of both countries are integrated. The coefficient of long run equation variable indicates that every 10 percent changes of one market, the imported SMP price will adjust 10.97 percent, while the exported SMP price will adjust 9.12 percent. The loading vector coefficient indicates that Indonesia is the only party adjusting to long run disequilibrium. Policies to minimize the risks includes: i) buffer budget, ii) alternative suppliers and iii) futures trade.
Co-Authors Bernhard Brummer Ratna Winandi Venty Fitriany Nurunisa