Template-Type: ReDIF-Article 1.0 Author-Name: Michal Chocholousek Author-Workplace-Name: Department of Management, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic Author-Name: Zuzana Hlouskova Author-Workplace-Name: Liaison Agency FADN CZ, Institute of Agricultural Economics and Information, Prague, Czech Republic Author-Name: Tereza Simova Author-Workplace-Name: Department of Management, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic Author-Name: Jan Huml Author-Workplace-Name: Department of Management, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic Title: Agriculture farms product differentiation assessment in the Czech Republic Abstract: Farms generally produce products with low differentiation. To reach an increase in the profit and sales, product differentiation is one of the potential strategies that could be successfully applied. This paper identifies "Intermediate Consumption/Total Output" as a simple and user-friendly indicator for farm product differentiation performance and comparison assessment in the Czech Republic, based on a two-step cluster analysis performed on 1 225 farms with different operating conditions and reproduction process characteristics in the Czech Republic. The data are sourced from Farm Accountancy Data Network (FADN CZ). Four farm clusters based on product differentiation levels are identified and described from the point of view of the production process and conditions. The resulting cluster profiles, in general, indicate the production conditions and process affecting the resulting product differentiation. Nevertheless, farms deliver extraordinary product differentiation values in fields with less favourable conditions and production processes. Those have the potential to be an inspiration for farms with lower product differentiation values. The result of this paper provides hope, less favourable conditions are not a limit for formidable performance. This paper result can be practically applied by anyone aiming to easily identify, evaluate, and compare farm product differentiation levels. Keywords: cluster analysis, gross farm income, performance, production process, pure effectiveness Journal: Agricultural Economics Pages: 81-89 Volume: 67 Issue: 3 Year: 2021 DOI: 10.17221/442/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/442/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202103-0001.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:3:id:442-2020-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Łukasz Kryszak Author-Workplace-Name: Department of Macroeconomics and Agricultural Economics, Institute of Economics, Poznań University of Economics and Business, Poznań, Poland Author-Name: Marta Guth Author-Workplace-Name: Department of Macroeconomics and Agricultural Economics, Institute of Economics, Poznań University of Economics and Business, Poznań, Poland Author-Name: Bazyli Czyżewski Title: Determinants of farm profitability in the EU regions. Does farm size matter? Abstract: Farms in the European Union come in a wide variety of sizes and the effect of farm size on profitability (return on assets - ROA) has not been sufficiently investigated. The principal goal of this paper, therefore, is to study the determinants of farm profitability using the panels of the Farm Accountancy Data Network (FADN) on farms of different economic size between 2007 and 2018. We use a profitability function based on ratios that show the production and financial management strategies used by the farms. We also analyse the impact of subsidies under the Common Agricultural Policy (CAP). To deal with endogeneity, we run dynamic panel models using the system generalised method of moments (sys-GMM) estimators. We highlight the important role of the high level of equity turnover. An increase in production relative to the farm's equity plays a crucial role in the growth of profitability for all groups of farms, but it is especially important for smaller entities. In addition, farm managers should control the level of debt since the debt-to-asset ratio is a highly significant negative determinant of farm profitability in most of the groups. The increase in subsidy rate generally translates into higher ROA, but this variable has a negative impact across the largest holdings. Keywords: dynamic panel models, Farm Accountancy Data Network (FADN), farm finance, large farms, return on assets (ROA), small farms Journal: Agricultural Economics Pages: 90-100 Volume: 67 Issue: 3 Year: 2021 DOI: 10.17221/415/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/415/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202103-0002.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:3:id:415-2020-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Sefa Işik Author-Workplace-Name: Department of Economics, Institute of Social Sciences, Ankara Yildirim Beyazit University, Ankara, Turkey Author-Name: Fatih Cemil Özbugday Author-Workplace-Name: Department of Economics, Faculty of Political Sciences, Ankara Yildirim Beyazit University, Ankara, Turkey Title: The impact of agricultural input costs on food prices in Turkey: A case study Abstract: Food price inflation has been a significant subject of debate in Turkey since food prices soared in 2018. The study examines the linkage between agricultural input prices and food prices in Turkey by using quantitative method approaches with the monthly data spanning from 2015-M01 to 2020-M01. A co-integration analysis is performed using the autoregressive-distributed lag (ARDL) bounds test approach and Maki co-integration test with structural breaks. Additionally, the fully modified ordinary least square (FMOLS), dynamic ordinary least squares (DOLS), and canonical co-integrating regression (CCR) are applied to verify the results of the ARDL approach. The analysis demonstrates a significant, long-running relationship between agricultural input prices and food prices in Turkey. The long-run agricultural input price elasticities are found to be in the range of 1.30-1.36. Keywords: autoregressive-distributed lag (ARDL), food inflation, fully modified ordinary least square (FMOLS), structural breaks, time series analysis Journal: Agricultural Economics Pages: 101-110 Volume: 67 Issue: 3 Year: 2021 DOI: 10.17221/260/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/260/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202103-0003.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:3:id:260-2020-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Piotr Bórawski Author-Workplace-Name: Department of Agrotechnology and Agribusiness, Faculty of Agriculture and Forestry, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland Author-Name: Marta Guth Author-Workplace-Name: Department of Macroeconomics and Food Economics, Institute of Economics, Poznań University of Economics and Business, Poznań, Poland Author-Name: Andrzej Parzonko Author-Workplace-Name: Department of Economics and Organization of Enterprises, Faculty of Economics, Warsaw University of Life Science - SGGW, , Warszaw, Poland Author-Name: Tomasz Rokicki Author-Workplace-Name: Department of Logistics, Institute of Economics and Finance, Warsaw University of Life Sciences, Warszaw, Poland Author-Name: Aleksandra Perkowska Author-Workplace-Name: Department of Logistics, Institute of Economics and Finance, Warsaw University of Life Sciences, Warszaw, Poland Author-Name: James William Dunn Author-Workplace-Name: Department of Agricultural Economics, Sociology and Education, Faculty of Agricultural Sciences, Pennsylvania State University, Pennsylvania, USA Title: Price volatility of milk and dairy products in Poland after accession to the EU Abstract: Milk and dairy products help meet the nutritional needs of the population. The main goal of this research was to analyse price volatility of milk and dairy products in Poland after accession to the European Union (EU). Price is the main economic influencer. We used 161 monthly observations from 01. 2007 to 05. 2020 to analyse the price changes. To measure the volatility, we have used Augmented Dickey-Fuller test (ADF test), Autoregressive-Moving-Average model (ARMA model), and Granger test. Our research confirmed high volatility of milk and dairy products prices. The ARMA model confirmed that the dairy product prices are stationary. Milk, butter and Gouda cheese are also useful for forecasting. Keywords: factors, milk market, stationarity Journal: Agricultural Economics Pages: 111-119 Volume: 67 Issue: 3 Year: 2021 DOI: 10.17221/459/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/459/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202103-0004.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:3:id:459-2020-AGRICECON