| Price Determination Structure and Impact in the Food Supply Chain | |||
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| Author | Kim, Jongjin | ||
| Views | 2712 | Publication Date | 2024.03.29 |
| Original | |||
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Background and Objectives ○Due to the global supply chain crisis caused by COVID-19 and the conflict between Russia and the United States, two significant exporters of agricultural commodities, agricultural prices have increased sharply and persisted at an elevated level until recently. Recognizing the heightened volatility of agricultural prices, Korea has prioritized agricultural price management as a crucial aspect of its overall price stability policy. Agri-food prices are determined by a variety of factors, including market supply and demand, as well as production factor prices like fertilizer, energy, rent, and wages. These prices have an impact on agri-food supply chain participant business performance and household consumption expenditures. It is essential to understand these factors and their impacts to develop effective agri-food price stabilization and response policies. Therefore, this study is aimed at gathering data and finding evidence on the features, decision-making framework, and spillover consequences of agricultural prices to develop policies for stabilizing and responding to agri-food prices for supply chain agents’ decision-making. (For more information, please refer to the report.) |
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