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External Market Linkages and Instability in Indian Edible Oil Economy: Implications for Self-sufficiency Policy in Edible Oils

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  • Thomas, Lijo
  • Jha, Girish Kumar
  • Pal, Suresh

Abstract

The liberalization of the economy following WTO agreement paved the way for significant changes in the edible oil economy. The paper has shown that the impact of the trade liberalization has led to integration between domestic and international edible oil markets. The consequences of this integration on price stability, and production dynamics have been examined. It has been observed that India has tried to balance the interests of both producers and consumers while fixing the import tariffs. The impact of imposition of tariff analyzed in a partial equilibrium framework has revealed that the net impact will be negative, given the current demand-supply parameters of domestic edible oil economy. The implications of these finding include an increase in research investments in oilseed to reduce the need for protecting domestic sector and to create a buffer stock of edible oils to tide over the short-term international price volatilities.

Suggested Citation

  • Thomas, Lijo & Jha, Girish Kumar & Pal, Suresh, 2013. "External Market Linkages and Instability in Indian Edible Oil Economy: Implications for Self-sufficiency Policy in Edible Oils," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 0(Number 2), pages 1-14.
  • Handle: RePEc:ags:aerrae:162154
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    File URL: http://ageconsearch.umn.edu/record/162154/files/4-L-Thomas.pdf
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    References listed on IDEAS

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    1. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
    2. Surabhi Mittal, 2006. "Structural Shift in Demand for Food - Projections for 2020," Macroeconomics Working Papers 22223, East Asian Bureau of Economic Research.
    3. Kumar, Praduman & Shinoj, P. & Raju, S.S. & Kumar, Anjani & Rich, Karl M. & Msangi, Siwa, 2010. "Factor Demand, Output Supply Elasticities and Supply Projections for Major Crops of India," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 0(Number 1), pages 1-14, January.
    4. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
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    Cited by:

    1. Sharma, Purushottam, 2016. "Development Programmes and Performance of Oilseeds Sector in India," Conference Papers 261306, Indian Society of Agricultural Economics.

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    Keywords

    Agricultural and Food Policy;

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