화학공학소재연구정보센터
Biomass & Bioenergy, Vol.65, 112-124, 2014
Analysis of woody biomass commodity price volatility in Austria
Several energy and agricultural commodities have experienced higher price volatility in recent years. Management of price risks usually leads to additional costs that are often shared and transmitted along the supply chain to the final consumers. Only little information is currently available on how price volatility of woody biomass commodities has developed compared to energy and agricultural commodities in recent years. We compute the historic price volatility of woody biomass commodities using the standard deviation of log returns as well as univariate GARCH models. The results show that the price volatility of several woody biomass commodities has increased in recent years. However, the price volatility of woody biomass is still lower compared to the price volatility of agricultural commodities and fossil fuels. The analysis of factors and linkages provides insights of the current biomass market developments. (c) 2014 Elsevier Ltd. All rights reserved.