• The Journal of Industrial Distribution & Business
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• v.8 no.7
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• pp.7-12
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• 2017

Purpose - This research examines the short-run and long-run effect of external shocks (oil price and exchange rate) on domestic food price in Indonesia. Research design, data, and methodology - Three variables are used in this research. The variables are food price index, Rupiah's exchange rate of Indonesia, and crude oil price from 1998 until 2015 using Vector Error Correction Model (VECM). Results - The increasing of oil price and the depreciation of Rupiah's rate push the domestic food price in long-run, but do not impact significantly in short- term. The response of food price to oil prices shock and exchange rate shock are positive and persistent throughout the entire sample period. The exchange rate and oil price shocks have a small proportion explaining for the fluctuations of food price index but increasing over time. Conclusions - The policymaker should concern on solving the problem of oil price increase and depreciation of exchange rate on Indonesia's food price as they are important factors that can affect the price stability. The government should not rely on food imports because the price is strongly influenced by the movements in the exchange rate.

• Korean Journal of Agricultural Science
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• v.38 no.2
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• pp.393-404
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• 2011

The international grain price shows dramatic change, which results in the price change of Korean processed food. Recently, Korean government and consumers started discussing about the effects of change of international grain price on the processed food. However, few studies have analyzed this effects. The goal of this paper is to analyze the effects of price change of international grain, especially wheat, soybean, and sugarcane, on the processed food price in Korea. As the results of analysis, three findings are presented: First, the size and timelag of the effects of change of international grain price on the processed food price is different due to products, Second, there is the possibility that processed food price in Korea will increase, Third, Korean government has some methods to manage the price change of processed food, even though government cannot totally control the price.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.4
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• pp.27-37
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• 2017

This study examines the behaviour of staple food price using Multivariate BEKK-GARCH Model. Understanding of staple food price behaviour is important for determining the unpredictability of staple food market and also for policy making. In this paper, we focus on the commodity prices of sugar, rice, soybean and wheat to examine the volatility behaviour of those commodities. The empirical results show that the own-volatility spillover are relatively significant for all food prices. The own-volatility spillover effect for sugar price is relatively large compared with the volatility spillover of other staple food commodities. The findings also highlight that the price volatility of wheat increases during food crisis more than it does when the condition is stable. Also, the own-volatility of rice and wheat in the period of the food crisis is significant and higher compared to the period before food crisis indicates that the past own-volatility effects during food crisis are relatively more difficult to predict because of the uncertainty and high price volatility. Policy recommendations that can be proposed based on the findings are: (1) a better trade agreement in food commodity trade, (2) lower the dependence on wheat importation in Indonesia, and (3) reliable system to minimize food price volatility risks.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.139-145
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• 2019

This study examines the dynamic linkages between food price inflation and its volatility in the context of Sri Lanka. The empirical evidence derived from the monthly data for the period from 2003M1 to 2017M12 for Sri Lanka. The relationship between inflation rate and inflation volatility has attracted more attention by theoretical and empirical macroeconomists. Empirical studies on the relationship between food inflation and food inflation variability is scarce in the literature. Food price inflation is defined as log difference of food price series. The volatility of a food price inflation is measured by conditional variance generated by the FIGARCH model. Preliminary analysis showed that food inflation is stationary series. Granger causality test reveals that food inflation seems to exert positive impact on inflation variability. We find no evidence for inflation uncertainty affecting food inflation rates. Hence, the findings of the study supports the Friedman-Ball hypothesis in both cases of consumer food price inflation and wholesale food price inflation. This implies that past information on food inflation can help improve the one-step-ahead prediction of food inflation variability but not vice versa. Our results have some important policy implications for the design of monetary policy, food policy thereby promoting macroeconomic stability.

• Journal of the Korean Society of Food Culture
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• v.8 no.2
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• pp.91-101
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• 1993

Unit price of meal provision in industrial foodservice differs with each business. It is believed that menu management work, contents of menu, and nutrition supply performed by dietitian are different with unit price of meal provision. In this sense, purposes of this study are to examine meal management work and contents of menu, by food cost, at industrial foodservice in Taegu, Kyungbuk area and to evaluate variety of menu and nutrition supply. Results of the study are as follows: 1. Average number of side dishes provided at meal, including Kimchi, was 2 at low unit price, 3.0 at middle unit price and 3.1 at high unit price. 2. Possession ratio of account books using for menu management was low. 3. With regard to kind of menu, high unit price was most various and showed more various, compared to low unit price, especially in cooking oil-used cook methods such as broil, pan-fried food, fry, and roast. 4. High unit price was found as the highest in kind of used food and supply volume. 5. Sugar, Mineral, Vitamine, and Protein were satisfied with standard food content, but fat and calcium were not. 6. Supply volume of food was positively correlated to supply volume of nutrient, but kinds of cook methods and food type were not correlated to that of nutrient.

• Journal of the East Asian Society of Dietary Life
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• v.17 no.2
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• pp.266-273
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• 2007

The purpose of this study was to measure the effects of service quality mediating the linkage among food and beverage price, restaurant image and value. A total of 273 questionnaires were completed. MANOVA, ANOVA and ANCOVA were used to measure the mediating effect of service quality on the relationships among food and beverage price, restaurant image, and value. The effects of food and beverage price and restaurant image on service quality and value were statistically significant. As expected, when food and beverage price and service quality were regressed on the value, the service quality was significant and the effect of the food and beverage price was reduced. Moreover, when restaurant image and service quality were regressed on the value, the restaurant image and service quality had a significant effects on value. The results demonstrated that service quality played a mediating role in the relationship between food and beverage price and value, and between restaurant image and value.

• Journal of the Korean Society of Food Culture
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• v.36 no.3
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• pp.293-299
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• 2021

The purpose of this study was to investigate the perception of the quality of school meals by parents of kindergarten children in Seoul, analyze the acceptance price and the optimal school meal cost using PSM (price sensitivity measurement) techniques, and provide basic data for improving the quality of kindergarten meals. The survey was conducted using descriptive statistics and PSM analysis of the responses of 1,272 parents of 779 kindergarten children belonging to the Seoul Metropolitan Office of Education from April to May 2021 and prior research analysis related to kindergarten meals. 74.1% of the parents surveyed were women, with 61% of children attending kindergartens attached to elementary schools, followed by private kindergartens (28.9%) and public kindergartens (10.1%). According to a study of the quality of meals, private kindergarten parents are highly satisfied with all the quality attributes of meals, such as "sanitation of dining environment" and "nutritionally balanced food" (p<0.001, p<0.01). The analysis of the acceptance price range and the optimal price for school meals showed that there was no significant variation based on the type of kindergarten establishment, with parents' acceptance price range ranging from 3,596 won to 4,454 won with an optimal price of 3,948 won.

• Journal of the Korean Society of Food Culture
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• v.7 no.2
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• pp.91-96
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• 1992

Eight hundred college students in Seoul area were surveyed for consumer behaviors and opinions about fast food restaurants at library, student center and class room from August 26 to 30, 1991. The result of this study showed that 70% of college students preferred to eat hamberger or chicken and 49% of them visited to fast food restaurants 1-3 times per month. The reasons given by students for patronizing fast food restaurants were the following, from most to least frequence: 'convenient', 'pleasant atmosphere', 'nice place to stay with friends', 'taste of food', 'speed of service', 'to be able to stay as long as I want', 'hygiene', 'variety of food price', 'nutritious food'. Majority of college students(71%) selected their food by preference, but 22% of them done by price. They were least satisfied with price and quantity of fast food. Therefore, it is important to develop domestic brand fast food restaurants to lower the price of fast food.

• The Korean Journal of Food And Nutrition
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• v.34 no.1
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• pp.47-57
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• 2021

The purpose of this study was to examine the relationship between the regular selling price and nutrient contents of foods used for special medical purposes in Korea. This study investigated the regular selling price and nutritional composition of 114 enteral nutrition (EN) foods on the manufacturer's internet homepage. The average price of the total products was 1,156.0 won/100 mL. The price of foods used for calorie and nutrient supplementation (CNS) was significantly higher compared to that of the other EN food types (p<0.01). With respect to the nutritional content per 100 mL of the product, EN foods for CNS had significantly higher contents of energy, protein, 5 minerals, and 7 vitamins than the other EN food types. On comparing the nutritional contents of foods according to the price, the balanced nutrition foods showed significantly higher contents of energy, carbohydrate, protein, 3 minerals, and 7 vitamins in high-priced products than in low-priced foods. Summarizing these results, foods for CNS were approximately twice as expensive as the other EN foods, and the energy, protein, mineral, and vitamin contents were also high. Balanced nutrition foods had higher nutrient contents in high-priced products, which showed the relationship between the product price and nutrient content.

• Journal of the Korean Society of Food Culture
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• v.36 no.4
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• pp.341-348
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• 2021

The purpose of this study was to analyze the operators' perception of the allowable price range and the optimal price of kindergarten meals by using the PSM (price sensitivity measurement) technique and provide basic data on calculating kindergarten meal costs reflecting realistic meals. From April to May 2021, 779 kindergartens in Seoul were surveyed, based on 246 (31.6%) of the respondents. According to the survey, kindergarteners spent 3,506 won for meals on average, followed by 3,822 won for kindergarten attached to elementary school, 3,316 won for public kindergartens, and 2,896 won for private kindergartens (p<0.001). The allowed price range for the kindergarten meal service workers was estimated at 3,447~3854 won, 3,447 won for PMC (Point of Marginal Cheapness), and 3,854 won for PME (Point of Marginal Expensiveness). The appropriate cost of the kindergarten meal service provider was 3,950 won for kindergartens attached to elementary school, 3,425 won for public kindergartens, and 3,546 won for private kindergartens.