Food Chain Actors’ Perceptions of and Adaptations to Volatile Markets: Results of a Media Analysis

Abstract

The volatility of agricultural markets has increased remarkably in recent years. In spite of this, the way in which supply chain actors perceive market volatility has only rarely been analyzed. This paper seeks to close this research gap by presenting empirical findings about how the volatility of agricultural markets is perceived, how increasing market volatilities are being explained, and what adaptations to the volatile external environments are being suggested. Based on a large

scale media analysis, we have identified perceptions, which vary greatly over time, especially with regard to the perception of the threats and opportunities volatility creates for farms and firms and the most frequently identified reasons for volatile prices.