We examine the dynamics of the margin between retail and international coffee prices from 1980 to 2018. We find no significant trend in the margin using a robust procedure for estimating a trend. Further, we establish that any deviations in the margin are transitory for the full sample as well as the periods prior to and after the demise of the ICA, but with asymmetric adjustment. One of the reasons for the observed asymmetry could be market concentration in the coffee supply chain at the coffee roasting level, which allows coffee roasters to keep a higher share of the profits.

中文翻译：

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咖啡价格动态：国际零售价差分析

我们研究了 1980 年至 2018 年零售和国际咖啡价格之间的差价动态。我们使用稳健的程序估计趋势，发现差价没有显着趋势。此外，我们确定，对于整个样本以及 ICA 消亡之前和之后的时期，边际的任何偏差都是暂时的，但会进行不对称调整。观察到不对称的原因之一可能是咖啡供应链中咖啡烘焙水平的市场集中度，这使得咖啡烘焙商能够保持更高的利润份额。