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Article Information:
Impact Effect of Food Safety Incidents on Price
Nan Zhou
Corresponding Author: Nan Zhou
Submitted: April 10, 2015
Accepted: April 22, 2015
Published: June 25, 2015 |
Abstract:
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Hidden danger of food safety is always one of the important factors causing food price fluctuation. Once some kind of food occurs large scale of safety incident, its price is bound to be impacted. To analyze the view above by example, this study analyzed impact effect of clenbuterol event on the market price of pork using method of relative price with a substitute. The results demonstrated that, relative price of pork and beef was in a co-integration relationship before clenbuterol event occurred; the first structural breakpoint appeared half year after CCTV reported clenbuterol event and the second one occurred in April, 2012, indicating the impact effect of clenbuterol event to market price lasted for half year. Evaluation of price impact effect by error correction model indicated that, the price of pork lowered 30.3% averagely in that period, while the price of its substitute beef tended to be higher, with an amplification of 8.2%.
Key words: Clenbuterol, food price analysis, impact effect, , , ,
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Cite this Reference:
Nan Zhou, . Impact Effect of Food Safety Incidents on Price. Advance Journal of Food Science and Technology, (8): 598-602.
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ISSN (Online): 2042-4876
ISSN (Print): 2042-4868 |
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