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State Trading Enterprises in a Differentiated Product Environment: The Case of Global Malting Barley Markets

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  • Dong, Fengxia
  • Marsh, Thomas L.
  • Stiegert, Kyle W.

Abstract

This study tested if the exclusive procuring and pricing policies of two state trading enterprises (STE) in international malting barley markets could be used in a strategic trade context. The research provided four key findings. First, the global malting barley market operated in a quantity-setting oligopolistic structure during the study years. Second, both STEs and other exporting countries were in Cournot competition and thus made available strategic trade possibilities. Third, initial commodity payments were too high to generate a rent-shifting outcome. Fourth, product differentiation was confirmed, which may have dampened the desire/ability of STEs to pursue a rent-shifting objective.

Suggested Citation

  • Dong, Fengxia & Marsh, Thomas L. & Stiegert, Kyle W., 2006. "State Trading Enterprises in a Differentiated Product Environment: The Case of Global Malting Barley Markets," Staff General Research Papers Archive 12357, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:12357
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    Cited by:

    1. Scoppola, Margherita, 2006. "Economies of Scale and Endogenous Market Structures in International Grain Trade," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25322, International Association of Agricultural Economists.
    2. Soregaroli, Claudio & Sckokai, Paolo, "undated". "Modelling Agricultural Commodity Markets under Imperfect Competition," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 116012, European Association of Agricultural Economists.
    3. Flaming, Stephen & Marsh, Thomas L. & Wahl, Thomas I., 2007. "Farm-Level Price Formation for Fresh Sweet Cherries," Journal of Food Distribution Research, Food Distribution Research Society, vol. 38(2), pages 1-11, July.
    4. Appelbaum, Elie, 1979. "Testing price taking behavior," Journal of Econometrics, Elsevier, vol. 9(3), pages 283-294, February.
    5. Mia Mikic, 2007. "Studies in Trade and Investment - AGRICULTURAL TRADE - PLANTING THE SEEDS OF REGIONAL LIBERALIZATION IN ASIA," STUDIES IN TRADE AND INVESTMENT, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), volume 60, number tipub2451, july-dece.
    6. Reimer, Jeffrey J. & Stiegert, Kyle W., 2006. "Evidence on Imperfect Competition and Strategic Trade Theory," Staff Papers 12609, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    7. Saed Alizamir & Foad Iravani & Hamed Mamani, 2019. "An Analysis of Price vs. Revenue Protection: Government Subsidies in the Agriculture Industry," Management Science, INFORMS, vol. 65(1), pages 32-49, January.
    8. Moritz Paulus & Johannes Trueby & Christian Growitsch, 2011. "Nations as Strategic Players in Global Commodity Markets: Evidence from World Coal Trade," EWI Working Papers 2011-4, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
    9. Margherita Scoppola, 2010. "The Liberalisation of Tariff Rate Quotas under Oligopolistic Competition," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(3), pages 584-604, September.
    10. Uttam Kumar Deb, 2007. "Agricultural Trade Protection: A Perspective from India," ARTNeT Policy Briefs 11, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    11. Bourgeon, Jean-Marc & Jean, Sebastien & Maillet, Anais, 2015. "State Trading Enterprises and Price Stabilization," 2015 Conference, August 9-14, 2015, Milan, Italy 211367, International Association of Agricultural Economists.
    12. Margherita Scoppola, 2007. "Economies of scale and market structure in international grain trade," Agricultural Economics, International Association of Agricultural Economists, vol. 37(2‐3), pages 277-291, September.
    13. Roberts, Shane & Brooks, Kathleen & Nogueira, Lia & Walters, Cory G., 2022. "The role of quality characteristics in pricing hard red winter wheat," Food Policy, Elsevier, vol. 108(C).

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