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An Analysis of Latin American Peanut Trade

Author

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  • Lee, Dae-Seob
  • Kennedy, P. Lynn
  • Fletcher, Stanley M.

Abstract

The U.S. export share in the world peanut market has decreased due to heavy competition. In this paper, the Latin American peanut industry is modeled using seemingly unrelated regression (SUR). Based on these estimations, a scenario analysis was conducted. The results show that the Latin American demand is not affected dramatically by either domestic of world price shocks. The effects of price changes on net trade are noticeable. However, the world price does not significantly affect the Latin American peanut supply. The results imply that Latin American peanut farmers are more sensitive to changes in domestic prices than world price changes.

Suggested Citation

  • Lee, Dae-Seob & Kennedy, P. Lynn & Fletcher, Stanley M., 2006. "An Analysis of Latin American Peanut Trade," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(01), pages 1-16, April.
    • Handle: RePEc:ags:joaaec:43744
    DOI: 10.22004/ag.econ.43744
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    References listed on IDEAS

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    1. Harmon, Alice & Preckel, Paul V. & Eales, James S., 1998. "Entropy-Based Seemingly Unrelated Regression," Staff Papers 28682, Purdue University, Department of Agricultural Economics.
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    4. Stanley R. Thompson & Donggyu Sul & Martin T. Bohl, 2002. "Spatial Market Efficiency and Policy Regime Change: Seemingly Unrelated Error Correction Model Estimation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(4), pages 1042-1053.
    5. Foschi, Paolo & Kontoghiorghes, Erricos J., 2003. "Estimating seemingly unrelated regression models with vector autoregressive disturbances," Journal of Economic Dynamics and Control, Elsevier, vol. 28(1), pages 27-44, October.
    6. Seamon, V. Frederick & Kahl, Kandice H., 2000. "An Analysis Of Factors Affecting The Regional Cotton Basis," 2000 Conference, April 17-18 2000, Chicago, Illinois 18924, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    7. Nayga, Rodolfo M. & Borges, Robert B., 1995. "Trade and the Political Economy of Agricultural Policy: The Case of the United States Peanut Program," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 27(2), pages 595-612, December.
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