Can Family Farms Depend on Price Information? Testing Butter and Curd Price Integration in Poland

This study examines the integration of regional dairy markets in Poland, which is a major European producing country. The analysis prices important, as many farmers are members processing cooperatives, and their incomes affected by two popular products: butter curd. Moreover, period included significant fluctuations world market termination milk quota system Union (EU). price records used this from main milk-producing regions country: Northern Central. data were tested for stationarity Granger causality before estimating Vector Error Correction (VEC) model. Estimation results show that removal lowered curd regions. relationships both nearly perfect during January 2010–November 2017, but found unintegrated. Impulse response showed effect shocks was mostly absorbed two-week returned to full equilibrium about four five weeks. fast adjustment indicates operate properly no participant can obtain gains above those offered at equilibrium.