Food markets performance under the COVID-19 pandemic: a case study of meat industry in Iran

This paper presents empirical evidence of the potential impact of the COVID-19 pandemic on the price structure and dynamics within two food value chains. Different proxies are applied to high-frequency panel data of beef and poultry prices in Iran. Results show that during the COVID-19 pandemic increased markups are associated with reduced cost pass-through along the value chains of beef and poultry in Iran. The results indicate that the COVID-19 pandemic induces market frictions on the supply and demand side, which decreases market performance.