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An analysis of marketed surplus response of cereals in Haryana State of India

Author

Listed:
  • S.K. Goyal

    (Department of Business Management, CCS Haryana Agricultural University, Hisar 125 004, India. E-mail: goyalsk@hau.nic.in)

  • Ernst Berg

    (Department of Farm Management, University of Bonn, Meckenheimer Allee 174, 53115 Bonn, Germany. E-mail: E.Berg@uni-bonn.de)

Abstract

This report uses a model that considers the effect of both factor and output prices on marketed surplus. To derive input demand and output supply elasticities, the normalized quadratic profit function and demand equations were estimated jointly with the seemingly unrelated regressions (SUR) estimation technique using farm level panel data. The data confirm the theoretical framework. The derived price elasticities of input demand, output supply, and marketed surplus have been simulated to examine alternative price policies for securing different levels of marketed surplus. At the observed price structure, the marketed surplus of wheat will increase almost equal to population growth, but in case of paddy it will grow at a very low rate. The study further reveals that besides price adjustment, technological improvement and non-price factors are also of critical importance for increasing output supply and, hence, marketed surplus. [EconLit citations: Q120, C330.] © 2004 Wiley Periodicals, Inc. Agribusiness 20: 253-268, 2004.

Suggested Citation

  • S.K. Goyal & Ernst Berg, 2004. "An analysis of marketed surplus response of cereals in Haryana State of India," Agribusiness, John Wiley & Sons, Ltd., vol. 20(3), pages 253-268.
    • Handle: RePEc:wly:agribz:v:20:y:2004:i:3:p:253-268
    DOI: 10.1002/agr.20014
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    References listed on IDEAS

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    1. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (II): Applications of the Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number fuss1978a.
    2. Kalpana Bardhan, 1970. "Price and Output Response of Marketed Surplus of Foodgrains: A Cross-Sectional Study of Some North Indian Villages," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 52(1), pages 51-61.
    3. Kumar, Praduman & Mruthyunjaya, 1989. "Price Policy and Marketed Surplus of Paddy and Wheat in India," Indian Journal of Agricultural Economics, Indian Society of Agricultural Economics, vol. 44(4), October.
    4. de Janvry, Alain & Kumar, Praduman, 1981. "The Transmission of Cost Inflation in Agriculture with Subsistence Production: A Case Study in Northern India," Indian Journal of Agricultural Economics, Indian Society of Agricultural Economics, vol. 36(3), July.
    5. Fuss, Melvyn & McFadden, Daniel (ed.), 1978. "Production Economics: A Dual Approach to Theory and Applications," Elsevier Monographs, Elsevier, edition 1, number 9780444850133.
    6. Lau, Lawrence J., 1978. "Applications of Profit Functions," Histoy of Economic Thought Chapters, in: Fuss, Melvyn & McFadden, Daniel (ed.),Production Economics: A Dual Approach to Theory and Applications, volume 1, chapter 3, McMaster University Archive for the History of Economic Thought.
    7. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (I): The Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 1, number fuss1978.
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