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Structure And Conduct Of The World Rice Market

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  • Kang, Hyunsoo
  • Kennedy, P. Lynn
  • Hilbun, Brian M.

Abstract

The purpose of this paper is to analyze the world rice market through a Structure-Conduct-Performance (SCP) framework utilizing annual data from 1970 to 2007. Since World War Two, the world rice market has been very unstable, with rice prices experiencing volatile swings in both rice price and rice availability. Therefore, a SCP framework can provide crucial insight into the world rice market for policy makers. Also, this paper describes the effects of total production, export rice price, and real exchange rate for exporting countries on total export volume from an export supply model standpoint. On the basis of these results, it is evident that market power exists in the international rice market with respect to supply elasticity and an exporting country’s currency exchange rate greatly determines that country’s competitiveness as a net rice exporter relative to other rice producers.

Suggested Citation

  • Kang, Hyunsoo & Kennedy, P. Lynn & Hilbun, Brian M., 2009. "Structure And Conduct Of The World Rice Market," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46080, Southern Agricultural Economics Association.
  • Handle: RePEc:ags:saeana:46080
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    File URL: http://purl.umn.edu/46080
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    References listed on IDEAS

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    1. Asche, Frank & Nøstbakken, Linda & Tveterås, Sigbjørn, 2009. "When will trade restrictions affect producer behavior: Oligopsony power in international trade," UiS Working Papers in Economics and Finance 2009/20, University of Stavanger.
    2. Gail L. Cramer & James M. Hansen & Eric J. Wailes, 1999. "Impact of Rice Tariffication on Japan and the World Rice Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1149-1156.
    3. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, January.
    4. Charles DeLorme & Peter Klein & David Kamerschen & Lisa Ford Voeks, 2003. "Structure, conduct and performance: a simultaneous equations approach," Applied Economics, Taylor & Francis Journals, vol. 35(1), pages 13-20.
    5. Deodhar, Satish Y. & Sheldon, Ian M., 1997. "Market Power In The World Market For Soymeal Exports," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(01), July.
    6. Bahmani-Oskooee, Mohsen & Ltaifa, Nabil, 1992. "Effects of exchange rate risk on exports: crosscountry analysis," World Development, Elsevier, vol. 20(8), pages 1173-1181, August.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    S-C-P paradigm; world rice market; concentration ratio; HHI; export rice price; exchange rate export supply function; Industrial Organization; International Relations/Trade;

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