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World Foodgrain Prices – The Effect of Exporting Countries’ Policies


  • SEKHAR, C.S.C.

    () (Institute of Economic Growth, Delhi, India)


The present study attempts to analyze the role of major exporting countries’ stocks and exports on world price, with a special focus on the world grain markets. The analysis uses the structural econometric modeling framework. The results confirm the crucial importance of the level of exporters’ stocks and their trade policies for the world market stability. The study brings out some important basic differences between wheat and rice markets as regards exporting countries’ policies and their influence on the world market. The results are also supported by the long-term developments in the two markets. Given the importance of stocks and flows in the world foodgrain markets, one crucial policy implication of the study is that a new institutional framework for managing world food stocks needs to be urgently evolved.

Suggested Citation

  • Sekhar, C.S.C., 2011. "World Foodgrain Prices – The Effect of Exporting Countries’ Policies," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 46(2), pages 217-242.
  • Handle: RePEc:dse:indecr:0037

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    Cited by:

    1. Gopakumar K.U. & V. Pandit, 2014. "Production, Procurement And Inflation-A Market Model For Food Grains," Working papers 238, Centre for Development Economics, Delhi School of Economics.

    More about this item


    Price formation; World Foodgrain Markets; Foodgrain Trade; Global Food Stocks; Regional Food Stocks.;

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy


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