Search Results (7)

Forest certification is a tool contributing to the achievement of sustainable and responsible forest management. It also presents consumers with a market to purchase products coming from responsibly managed forests and provides forest managers with improved market access for their products. Even if forest certification incurs higher costs that affect the sale price, consumers generally have a greater willingness to pay more for certified products than for uncertified products. The objective of this study is to analyze the changes in the sales prices of oak and beech log in auction sales occurring during certified and uncertified periods at Demirköy Forest Enterprise, which received an FSC Certificate in 2014. For this aim, the Chow test was used and linear regression models were developed. It was found that the log sales prices of certified and uncertified periods are statistically different from each other at p = 0.05 significance level. As a consequence, it was determined that there was an increase in price of approximately 12% for oak and 19% for beech at log sales after certification. This study deals with only part of the economic impact of certification. The results can contribute to the forest certification database in order to support the decision-makers (managers and wood manufacturers) in their strategic decisions. The study will enable the forestry sector to see the possible reflections of certification practices in the country and the world markets. The effect of certification should be further investigated by including other factors (supply-demand situation of the forest industry, sales of neighboring enterprises, market conditions, etc.) affecting log sales prices. Full article

This document describes the development of a tracing system for the buffalo supply chain, namely an online computer system in which farmers, dairies, and brokers must maintain records of the production of milk through to the production of derivatives. The system is jointly used throughout the Italian national territory by the Istituto Zooprofilattico Sperimentale del Mezzogiorno (IZSM) and the Sistema Informativo Agricolo Nazionale Italiano (SIAN), after being made mandatory and regulated with the publication of the Ministerial Decree of 9 September 2014. Farmers are obligated to communicate their daily production of bulk milk, the number of animals milked, the number of the delivery note of the sale, and the name of the purchaser; within the first week of the month, they must communicate the milk production of each animal milked. Dairies are required to communicate the milk and the processed product (mozzarella, yogurt, etc.) purchased on a daily basis. The intermediaries are required to communicate the daily milk purchased, both fresh and frozen, the semi-finished product, and the sale of the same. The tracing system linked to the project authorized by the Ministry of Health, called “Development, validation and verification of the applicability of an IT system to be used for the management of traceability in the buffalo industry”, provides operators with the monitoring of production and sales in real time through alerts and access logs. Currently, there are 1531 registered farmers, 601 non-PDO dairies, 102 PDO dairies, 68 non-PDO intermediaries, and 17 PDO intermediaries in Italy. The system provides support for the recovery of the buffalo sector; from the analysis of the data extrapolated from the tracing system of the buffalo supply chain for the years 2016 to 2019, this paper highlights that the application of the Ministerial Decree No. 9406 of 9 September 2014 and the tracing of the supply chain have increased the price of buffalo milk at barns from EUR 1.37/kg to EUR 1.55/kg from 2016 to 2019. Full article

China’s wood industry is vulnerable to the COVID-19 pandemic since wood raw materials and sales of products are dependent on the international market. This study seeks to explore the speed of log price recovery under different control measures, and to perhaps find a better way to respond to the pandemic. With the daily data, we utilized the time-varying parameter autoregressive (TVP-VAR) model, which can incorporate structural changes in emergencies into the model through time-varying parameters, to estimate the dynamic impact of the pandemic on log prices at different time points. We found that the impact of the pandemic on oil prices and Renminbi exchange rate is synchronized with the severity of the pandemic, and the ascending in the exchange rate would lead to an increase in log prices, while oil prices would not. Moreover, the impulse response in June converged faster than in February 2020. Thus, partial quarantine is effective. However, the pandemic’s impact on log prices is not consistent with changes of the pandemic. After the pandemic eased in June 2020, the impact of the pandemic on log prices remained increasing. This means that the COVID-19 pandemic has long-term influences on the wood industry, and the work resumption was not smooth, thus the imbalance between supply and demand should be resolved as soon as possible. Therefore, it is necessary to promote the development of the domestic wood market and realize a “dual circulation” strategy as the pandemic becomes a “new normal”. Full article

A timber market occupies a very particular position within the economic reality. Trading of commodities such as precious timber is, indeed, strongly conditioned by the carrying capacity and the silvicultural potential of the forest ecosystem. Timber markets in Poland are characterized by a controlling position of the State Forests, and one of the possible forms of wood sale is the system of submission. A submission usually implies that small quantities of wood with unusual features are being offered to a specific group of customers. The paper presents the sale results and prices of veneer wood commercialized in submission systems and in other forms of timber sale in the territory of Krosno during the years 2000−2019. It is one of the oldest submission markets in Poland, where the most expensive log ever in Poland was sold (13,000 USD/log—close to 7000 USD/m³). The Regional Directorate of State Forest (RDSF) of Krosno is located in the south-eastern part of Poland and manages a forest area of approximately 400,000 hectares. Annual timber harvesting amounts to 2 million m³, of which less than 2000 m³ annually is allocated to the submissions. The data cover a 20-year continuous time series and allow tracing changes in the wood volume offered to the market, the species population structure, and price trends for individual species. The data are being discussed against the background of the economic situation and in relation to the average prices obtained from other methods of sale. Beech was the most sold, but the demands for oak and sycamore appeared to be particularly high during the period of observation. The unity prices can be very variable even for wood from the same species, especially for sycamore. The prices are generally demand-driven and show strong influences from furniture industries and fashion. A rising demand for high quality timber and logs of big dimensions has been noticed. The submission system results in substantial economic benefits for the forest management and the region as a whole. Full article

In recent years, the demand for collective mobility services registered significant growth. In particular, the long-distance coach market underwent an important change in Europe, since FlixBus adopted a dynamic pricing strategy, providing low-cost transport services and an efficient and fast information system. This paper presents a methodology, called DA4PT (Data Analytics for Public Transport), for discovering the factors that influence travelers in booking and purchasing bus tickets. Starting from a set of 3.23 million user-generated event logs of a bus ticketing platform, the methodology shows the correlation rules between booking factors and purchase of tickets. Such rules are then used to train machine learning models for predicting whether a user will buy or not a ticket. The rules are also used to define various dynamic pricing strategies with the purpose of increasing the number of tickets sales on the platform and the related amount of revenues. The methodology reaches an accuracy of 95% in forecasting the purchase of a ticket and a low variance in results. Exploiting a dynamic pricing strategy, DA4PT is able to increase the number of purchased tickets by 6% and the total revenue by 9% by showing the effectiveness of the proposed approach. Full article

The European beech (Fagus sylvatica L.) is the most prevalent deciduous tree species in Central Europe. The implementation of sustainable, close-to-nature silvicultural practices increased the percentage share of beech in forest species composition, raising the economic significance of beech roundwood, especially in terms of revenues from timber sales. The elucidation of roundwood price mechanisms as well as long-term equilibrium relations between international markets may be helpful in calculating the profitability of beech roundwood production. The study material consists of quarterly time series of beech roundwood prices from Austria, Czechia, Germany, Poland, Slovakia, and Slovenia in the years 2005–2018. The price time series were described with a multiplicative model incorporating seasonal, cyclical, and irregular, as well as long-term trend components. The time series were decomposed using the Census X11 method. Stationarity was tested by means of the augmented Dickey–Fuller test (ADF) and the Kwiatkowski–Phillips–Schmidt–Shin test (KPSS). Cointegration was assessed using the Johansen and Engle–Granger methods. From 2005–2018, the highest mean beech roundwood prices were found for Austria (77.5 € m⁻³) and Germany, and the lowest for Poland and Slovakia. Roundwood prices were badly affected by the 2008/2009 financial crisis, which caused an approx. 27% decline. The prices of large-diameter beech logs exhibited seasonal fluctuations, typically reaching a maximum in Q1 and a minimum in Q3. The amplitude of those fluctuations was the highest in Slovenia in 2005 (10.1%), while in Czechia and Germany, seasonal effects increased over the period of study. The lowest seasonality was found in Slovakia and Austria (in the latter country it was not statistically significant). On an annual scale, cyclical changes generally accounted for the largest proportion of price variation, and were particularly pronounced in Poland (78.9%), Slovakia (78.6%), and Austria (69.2%). On the other hand, seasonal effects were predominant in the Slovenian (40.6%), German (34.1%), and Czech (33.3%) markets. In countries with price series of type I(0), simple correlation between stationary beech roundwood prices is positive and the strongest between Czechia–Poland and Czechia–Austria; on the other hand they are the weakest in the German market. In Slovakia and Slovenia with nonstationary price series, both Johansen’s and Engle-Granger’s cointegration tests indicated the absence of a long-term equilibrium between the analyzed beech timber markets. Results revealed integration between the prices of large-diameter beech logs in Czechia, Austria, and Poland. It should be mentioned that in this study, the time series of price used are rather short for long time cointegration analysis, which might prevent the proper detection of cointegration between all analyzed countries. Full article

This research deals with the problem of agricultural land market efficiency using the spatial market integration concept as well as the present value (PV) model. Empirically, it aims to test the convergence of agricultural land prices across Polish provinces. In order to check the law of one price (LOP), good-quality, medium-quality and bad-quality land sales markets are examined separately. Furthermore, this study is complemented by an analysis of the drivers behind agricultural land price convergence. The main method of testing price convergence is the log t regression. The latter was performed in two configurations, i.e., based on trend components of time series extracted using the Hodrick–Prescott filter and the Hamilton filter. Additionally, traditional β- and σ-convergence tests were applied. The obtained results indicated that agricultural land prices tend to converge in relative terms, which means that the provinces share a common long-run growth path. This finding and estimates of traditional convergence tests prove the increasing integration in the agricultural land market in Poland. There is no evidence, however, to support the conclusion that the absolute version of the long-run LOP holds. Moreover, using dynamic fixed effects models, it was identified that for good-, medium- and bad-quality land prices almost the same drivers of convergence apply. The only differences concern the strength of the influence of independent variables on prices of farmland of various types. Additionally, bad-quality land prices are the only ones which are affected by livestock density. Furthermore, estimates of the present value model finally confirmed that the agricultural land sales market in Poland cannot be considered as efficient. Full article