The eco-friendly certification system is designed to ensure safe agricultural products to consumers while minimizing environmental pollution. However, despite its advantages, it is not widely adopted due to a possible decrease of farmers’ income. In order to provide implication for activating the eco-friendly certification system, this paper examines the attributes of green tea which affect consumers’ preferences and estimates consumers’ willingness to pay (WTP) for the eco-friendly certification in China. A choice experiment survey is employed for data collection, and the random utility model is used to estimate the preference for the certification and quality of green tea. The attribute that yields the highest marginal WTP turns out to be the organic certification for which WTP is $115.9/250g higher than for no certification. Also, the analytical results indicate that the group with high trust is willing to pay up to $214.6/250g more for green tea with organic certification compared to the one with no certification. The empirical results suggest that it is important to build the consumers’ awareness and trust toward the certification to activate the eco-friendly certification system.

The fluctuation of vegetable prices in recent years underscores the need to identify contributing factors and develop effective policies. In order to examine the factors affecting the fluctuation of vegetable prices, this paper uses a structural model constructed by demand, supply, import, and export functions to decompose price variance, and also performs a numerical simulation to generalize the results. We studied the Korean vegetable market, and selected cabbage, radish, dried red pepper, garlic, and onion as research objects. The results indicates that variability of domestic production is the primary factor that influences price fluctuations in the Korean vegetable market. In contrast, our analysis revealed that demand, import, and export had a limited impact on price fluctuations in the Korean vegetable market, except for dried red pepper and onion.

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We examine the effect of the US-China trade war on the international feed grain futures markets and China’s pork market by using the univariate GARCH model with considering the structural breaks in each market. Granger causality test and the DCC-GARCH model are applied to examine the changes in the relationship between the international feed grain futures market and China’s pork market in the presence of the trade war. The analytical results suggest that the trade war has a significant negative effect on the volatility of international soybean futures price, but it exacerbated volatility in Chinese pork prices. Our empirical results also confirm that a stable causality existed between international soybean futures market and China’s pork market in the pre-trade war period, but it was disrupted after the trade war broke out.

Decision-making on the number of slaughtered heads considering the change in the number of breeding heads is an important issue for Hanwoo-breeding farmers. While previous studies treat breeding heads of Hanwoo in terms of supply function, this study differs in the way that it develops a model for breeding heads that incorporate both supply and demand sides. The number of cattle raised is forecasted using the estimates of slaughtered heads, the estimates of breeding cattle under one year of age, and the actual number of breeding cattle in the previous period. The result of the precision of the model for estimating the number of cattle raised indicates that the accuracy of the model is very high.