HEDONIC PRICES IN THE MALTING BARLEY MARKET

An important characteristic in the malting barley market is the multitude of quality variables which affect the value of particular samples. The purpose of this study was to estimate implicit (or hedonic) prices for selected quality factors. An econometric model was used to analyze factors affecting the variability in malting barley prices, and to estimate implicit prices for plumpness and protein. The results indicate that a change may be evolving in the price determination process for malting barley. In particular, the feed grains sector has had increasingly less effect on malting barley prices in recent years