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This article explores consumer behavior regarding pork purchases, revealing that increased prices of fresh and other pork products deter purchases. Conversely, a rise in beef prices tends to boost fresh pork demand, while higher egg prices have the opposite effect on other pork sales. Additionally, an increase in total food expenditure correlates positively with pork purchases. The article summarizes the demand elasticity of pork, highlighting its inelastic nature and the substitution and complementary relationships with other proteins like poultry and seafood.
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Decision to buy pork • Consumers are less likely to buy fresh & other pork if their prices increase. • Consumers are more likely to buy fresh pork if beef price increases but less likely to buy other pork if egg price increases. • Consumers are more likely to buy fresh & other pork if their total food expenditure increase.
Demand elasticity of pork • Demand for fresh and other pork is fairly inelastic. • Poultry, beef and fish are substitutes of fresh pork while seafood appears to be complement (see compensated elasticity). • Other pork, eggs and seafood are complements of fresh pork, if income effect is considered. • Poultry and seafood are substitutes of other pork (see compensated elasticity).
