Purpose The study focused on the Chilean olive oil market. The purpose of this paper is to determine the incidence of psychographic variables in the purchasing frequency of this product in an emerging market. Design/methodology/approach A face-to-face survey was applied to a stratified sample in the Biobío Region (Chile). The food neophobia scale (FNS) and list of values (LOV) were used simultaneously to measure psychographic variables. A multinomial logit model was estimated to determine the relationship between olive oil purchasing frequency and psychographic variables. Findings Results suggest that psychographic variables can explain olive oil purchasing frequency in the Chilean market. For a new food product, neophilia and the values of external and hedonistic dimensions can explain the higher purchasing frequency of the product. Just as in other research studies, the combined use of psychographic and sociodemographic variables performed well in segmenting a new food market. Research limitations/implications Results should be interpreted for the purchasing behavior of a new food in the context of an emerging market. Future research should expand the geographic zone to apply the survey and incorporate other variables such as ethnocentrism or ethnic identity. Originality/value Most available research studies have investigated separately the incidence of both variables in food consumption in developed, cosmopolitan and intercultural markets. This is the first approach in jointly applying the psychographic variables FNS and LOV in an emerging market and using olive oil as a case study.
The aim of this paper is to analyse the spatial price transmission of rice in Colombia, emphasizing the impact of trade policies. For this purpose, a Markov-switching vector error correction model was used to model regime shifts in the relationship between domestic and international rice prices in Colombia and some control countries, from January 1996 to September 2018. The results reveal three price transmission regimes that coincide with internal trade policies and with the food crisis of 2007-2008. The high volatility regime was the most persistent, with an average duration of 15.4 months, a transition probability of 93 % and an adjustment speed of 0.24. In addition, during this regime, Colombia was less integrated into the international rice market. These results are relevant, since they constitute the application of a threshold methodology to the analysis of the transmission of agricultural prices and can be useful for the design of agrarian policies that contribute to the integration and competitiveness of the Colombian rice sector.
Factibilidad del uso de contratos de futuros del Chicago Mercantile Exchange para la cobertura del riesgo de precio en el ganado bovino chileno Resumen: El objetivo de este artículo es estudiar la factibilidad del uso de contratos de futuros del Chicago Mercantile Exchange como instrumento de cobertura del riesgo de precio para el ganado bovino en Chile. Para tal propósito, se realizaron pruebas de raíces unitarias estacionales y se utilizó el modelo Johnson-Stein para estimar las ratios de cobertura de mínimo riesgo entre 1975 y 2012. Los resultados muestran que los mercados de ganado bovino están integrados y que la ratio de cobertura óptima para un productor de ganado se encuentra en línea con las ratios estimadas para otros commodities. Estos hallazgos pueden ser útiles para hacedores de política agrícola en países en desarrollo porque confirman el potencial de este tipo de instrumentos para reducir el riesgo de precio entre los productores ganaderos y dan argumentos empíricos para fomentar su utilización.Palabras clave: precios de futuros, mercados financieros internacionales, criterios para la toma de decisiones bajo riesgo e incertidumbre, política agrícola.
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