DETERMINING THE INFLUENTIAL FACTORS IN THE MODELLING OF THE PRICE OF WHEAT IN TURKEY

Wheat is grown in almost every region. Not only it is very important agricultural grain commodity in Turkey but as well in the world. It is very crucial to determine of the modelling the price of wheat for economic and social development. It is known that the 2008 financial crisis effected drastically on the food prices by real conditions, shrinking Turkish household budgets. Determining the influential factors in the econometric modelling of the wheat price gives more govermental decision effectively and price equalisation. In this study, there are many influential indicators on the price of wheat which cover 5 separate functions: demand, supply, economic (micro and macro), climate change and natural resource. These variables are gathered from different data sources. The variables belonging to these functions are determined by reduction method Factor analysis. After determining the related variables, the VAR analysis was implemented inhere by selected variables.