Author(s): Diego Fernando Vargas Calderon, Eduar Leandro Suarez Melenje, Jhon Fredy Betancur Perez
This study determines the degree of association between the increase in the price of panela and ethanol production, from 2000 to 2017, in the department of Valle del Cauca. The material used in the research was divided into two segments. The first segment, a bibliographic one, used databases such as Google Scholar, ScienceDirect, and Scopus. The second segment used statistical data with databases such as the consumer price index provided by DANE and the ethanol production level provided by Asocaña. The method used in the research focused on the error correction model. The most relevant result obtained in the model is that for every 1% increase in ethanol production, the price of panela increases by 0.231025%. Finally, the most relevant conclusion is that there is a rivalry for sugarcane due to the increase in ethanol production, which is generating an increase in the final price of panela, because it is a food commodity.