Análise das Margens e Transmissão de Preços no Sistema Agroindustrial do Suco de Laranja no Brasil

Trades between orange growers and orange juice processing companies in Brazil have been characterized by conflicts, culminating in accusations of breach of contracts and cases of anti-trust violations in the Council for Economic Defense (Cade). Recently, attempts to create a council, called Consecitrus, have failed, evidencing that conflicts remain. Due to the evident fragility of the transactions between these agents, the aim of this study is to investigate whether there is indication of market power use by the processing companies in their dealings with growers. For this, the evolution of gross margins and price transmission are analyzed. The analysis of the margins revealed that the gains achieved by processors are significantly higher when the revenue obtained with the sale of byproducts is added to the juice revenue. It was found that the margins are underestimated when considering only the leading products in its calculation. The analysis of price transmission showed that processing companies transfer price decreases for growers in the short-term and an asymmetry in the long-run. Therefore, there is an evidence of the market power use by orange juice processing companies, and this practice can generate cumulative losses for growers, since there is an asymmetry in the long-term with less than proportional price recovery.

巴西橙农与橙汁加工企业间的贸易长期以来存在诸多冲突，最终升级为经济防御委员会（Council for Economic Defense，Cade）受理的合同违约指控与反垄断违规案件。近期，旨在设立Consecitrus理事会的尝试以失败告终，进一步印证了双方冲突仍未平息。鉴于这类交易主体间的贸易存在显著脆弱性，本研究旨在探究橙汁加工企业在与橙农的贸易往来中是否存在滥用市场势力的迹象。为此，本研究对毛利率的动态演变与价格传导机制展开了分析。毛利率分析结果显示，若将副产品销售收入纳入橙汁销售收入核算，加工企业获得的收益将显著提升；若仅以核心产品（橙汁）进行核算，毛利率会被低估。价格传导机制分析结果表明，加工企业会在短期内向橙农转嫁价格下跌压力，且长期价格传导存在非对称性。综上，本研究证实橙汁加工企业存在滥用市场势力的行为，且由于长期价格传导存在非对称性，价格回升幅度低于合理比例，这一行为将给橙农带来累积性损失。