Análisis del mercado de piña Gold y Perolera en dos principales centrales mayoristas de Colombia

Abstract

In this work the behavior of the price of two varieties of pineapple Gold and wholesalers Perolera two plants in Colombia is analyzed. The techniques used were the cointegration and Granger causality test, for which prices were taken pineapple, in the period 2006-2011 of wholesale markets Corabastos (in the case of Bogota) and the Central Wholesale Itagui (for Medellin). The theoretical framework was the law of one price. The work proved that there is market integration in the process of price formation. The results allow us to see that there is independence between the prices of the two markets. Cointegration tests indicate that the series are cointegrated itself, so that in the absence of external shocks, the series converge in the long term. We conclude that, although there is no causal link between the markets, these are themselves integrated in the long run, evidencing a fulfillment of the law of one price. The study does not include an analysis of the distances between production areas and consumption centers to consider the effect of transport costs when setting the price. Future research could consider such variables as quality and consumer preferences.