ANALYSIS OF THE PRICE FORMATION PROCESS FOR WHITE AND REFINED SUGAR IN SAO PAULO AFTER DEREGULATION OF THE SUGAR AND ALCOHOL SECTORANALYSIS OF THE PRICE FORMATION PROCESS FOR WHITE AND REFINED SUGAR IN SAO PAULO AFTER DEREGULATION OF THE SUGAR AND ALCOHOL SECTOR
Cinthia Cabral da Costa, Heloisa Lee Burnquist
Abstract
This article used econometric models to investigate the price relation between white and refined sugar market prices for the state of Sao Paulo, Brazil. The analysis focused on the sugar market in its postderegulation period, from April 1997 to May 2000. It has been considered that prices adjust by excess demand between the producer and wholesale levels, while the retail prices adjust to an expected price. The results are mostly according to the hypothesis proposed. They provide an indication about the percentage impact of price change at one market level upon prices at anotI:ier market level. However, contrary to what has been expected, it has been observed that the retail price of white sugar has a positive influence on the product's demand. This was related to the absence of substitute products.
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Referências
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