文章基本信息

标题：Impact of COVID-19 Pandemic on Vertical Price Transmission in the U.S. Fresh Banana Market
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作者：Solomon Odiase ; Sayed H. Saghaian
期刊名称：Sustainability
印刷版ISSN：2071-1050
出版年度：2022
卷号：14
期号：10
页码：6354
DOI：10.3390/su14106354
语种：English
出版社：MDPI, Open Access Journal
摘要：The U.S. imports about two billion dollars of fresh bananas, accounting for over 99 percent of domestic banana consumption annually. The COVID-19 pandemic disrupted the fresh banana supply chain and caused unexpected price movements along the marketing channel. This research investigated the impact of the COVID-19 pandemic on price adjustments in the U.S. fresh banana market. A Vector Error Correction (VEC) model was employed to evaluate the speeds of price adjustments along the U.S. banana marketing channel at the import and retail levels, and historical decomposition graphs were used to investigate the magnitude of price adjustments caused by the COVID-19 shock. The results show that the deviation from the long-run equilibrium caused by the shock was corrected faster for the import prices than retail prices. Hence, the speeds of price adjustments were asymmetric in the period of the COVID-19 shock. Additionally, the magnitudes of price changes caused by the pandemic shock were different, leading to increased price margins. These results point to the inefficiency of the banana marketing channel with welfare, policy, and agribusiness implications.