Hedonic Price Model of Table Olive in Turkish Markets: a Case Study of Bursa Province
Keywords:Gemlik variety olive, olive marketing, quality, price determination factors, consumer preferences, econometric model
The overall appearance and size are the most effective factors for quality determination of olives. Moreover, quality classification and pricing of olives are done according to size namely the number of olive fruits per kilogram. The aim of this study was to designate the effects of some quality criteria: number of olive fruit/kg (188-363), width (14.23- 19.23 mm), height (18.23-24.17 mm), flesh/stone weight ratio (4.80-6.96) , total dry matter (41.27-47.19 %), total acidity as lactic acid (0.53-0.74 %), pH (5.10-5.29), total oil (21.70-26.77 %), fatty acid composition of raw table olives on price determination by hedonic model analysis. Statistical analysis of prices was done by using average retail prices of the samples. Lactic acid, flesh/stone weight ratio, total oil and linoleic acid factors had positive coefficients, so they positively affected the price. According to this model, main quality criteria affecting the price of olives were total acidity and flesh/stone weight ratio. Other factors did not significantly affect the table olive price. Especially the latter, since for the consumers, paying more would not only mean larger fruits but also a higher flesh ratio. Also, considering the factors having positive coefficients in price determination of table olives for both producers and consumers was important.
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