Research concerning the Correlation between Demand and Offer in the Romanian Milk Market
Keywords:correlation, demand, market, milk, offer, Romania
The paper analysed the evolution of Romania’s milk production and consumption in the period 2000-2008 in order to identify the correlation between milk offer and demand. Fixed basis index, average, standard deviation, variation and correlation coefficients have been used for processing data. The specific indicators taken into account are: number of milk producing animals, milk yield and production, production per inhabitant, consumption per capita and milk offer-demand ratio. Milk production increased by 9.4 % from 51,630 thou hl in the year 2000 to 59,006 thou hl in 2008, because of the higher milk yield by 24 % but the lower number of milk producing animals by 8 %. As a result, milk production per capita decreased by 4.15 %. Milk consumption increased by 31.9 % from 193 liters/capita in 2000 to 254.7 liters in 2008, being covered both by domestic production and import as well. Milk yield and milk production are positively and strongly correlated (r=0.927) and milk production and consumption per capita as well (r=8.897). But between milk production per capita and consumption/capita is a weak relation. Milk consumption has been entirely covered by production between 2000-2002 and since 2003 it has been also covered by imports.
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