ANALYSING ALMOND PRICES IN TUNISIA: A COINTEGRATION APPROACH

Nuts represent a small part of total fruit production in Tunisia and almonds and pistachios are the main products. Almonds still follow traditional marketing channel routes and many factors are involved in their price determination. This paper discusses the relationship between the different price levels: export price (PE), wholesale price (PG) and consumer price (PC) for almonds. By using the Johansen test, and provided that prices are cointegrated, an error correction model (ECM) has been developed based on the cointegration relationship. The analysis shows that there is a certain linkage between different prices.