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Research Investments and Market Structure in the Food Processing, Agricultural Input, and Biofuel Industries Worldwide

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Author Info

  • Fuglie, Keith O.
  • Heisey, Paul W.
  • King, John L.
  • Day-Rubenstein, Kelly A.
  • Schimmelpfennig, David E.
  • Wang, Sun Ling

Abstract

Meeting growing global demand for food, fiber, and biofuel requires robust investment in agricultural research and development (R&D) from both public and private sectors. This study examines global R&D spending by private industry in seven agricultural input sectors, food manufacturing, and biofuel and describes the changing structure of these industries. In 2007 (the latest year for which comprehensive estimates are available), the private sector spent $19.7 billion on food and agricultural research (56 percent in food manufacturing and 44 percent in agricultural input sectors) and accounted for about half of total public and private spending on food and agricultural R&D in high-income countries. In R&D related to biofuel, annual private-sector investments are estimated to have reached $1.47 billion worldwide by 2009. Incentives to invest in R&D are influenced by market structure and other factors. Agricultural input industries have undergone significant structural change over the past two decades, with industry concentration on the rise. A relatively small number of large, multinational firms with global R&D and marketing networks account for most R&D in each input industry. Rising market concentration has not generally been associated with increased R&D investment as a percentage of industry sales.

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Bibliographic Info

Paper provided by United States Department of Agriculture, Economic Research Service in its series Economic Research Report with number 120324.

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Date of creation: Dec 2011
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Handle: RePEc:ags:uersrr:120324

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Related research

Keywords: agricultural biotechnology; agricultural chemicals; agricultural inputs; animal breeding; animal health; animal nutrition; aquaculture; biofuel; concentration ratio; crop breeding; crop protection; farm machinery; fertilizers; Herfindahl index; globalization; market share; market structure; research intensity; seed improvement; Productivity Analysis;

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  1. Deepak Rajagopal & Steve Sexton & Gal Hochman & David Zilberman, 2009. "Recent Developments in Renewable Technologies: R&D Investment in Advanced Biofuels," Annual Review of Resource Economics, Annual Reviews, vol. 1(1), pages 621-644, 09.
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Cited by:
  1. Jin, Yu & Huffman, Wallace E., 2013. "Reduced U.S. Funding of Public Agricultural Research and Extension Risks Lowering Future Agricultural Productivity Growth Prospects," Staff General Research Papers 36796, Iowa State University, Department of Economics.
  2. Briones, Roehlano M., 2013. "The Structure of Agricultural Trade Industry in Developing Countries," Discussion Papers DP 2013-15, Philippine Institute for Development Studies.
  3. Tokgoz, Simla & Fuglie, Keith, 2013. "Public Policy, Induced Innovation, and Private Research: The Case of Agriculture," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149613, Agricultural and Applied Economics Association.

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