IDEAS home Printed from https://ideas.repec.org/a/ags/joaaec/43744.html
   My bibliography  Save this article

An Analysis of Latin American Peanut Trade

Author

Listed:
  • 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(1), pages 1-16, April.
    • Handle: RePEc:ags:joaaec:43744
    DOI: 10.22004/ag.econ.43744
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/43744/files/1.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.43744?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Harmon, Alice & Preckel, Paul V. & Eales, James S., 1998. "Entropy-Based Seemingly Unrelated Regression," Staff Papers 28682, Purdue University, Department of Agricultural Economics.
    2. Mohanty, Samarendu & Beghin, John C. & Kaus, Phillip J., 2001. "Impacts Of Federal Support Programs For Sugar And Peanuts Compared To Corn And Wheat On U.S. And World Markets," 2001 Annual meeting, August 5-8, Chicago, IL 20610, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. 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, Southern Agricultural Economics Association, vol. 27(2), pages 1-18, December.
    4. 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.
    5. 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.
    6. 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.
    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.
    8. Robert B. Borges & Walter N. Thurman, 1994. "Marketing Quotas and Random Yields: Marginal Effects of Inframarginal Subsidies on Peanut Supply," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(4), pages 809-817.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Devkota, Shankar & Holcomb, Rodney B. & Taylor, Merritt J. & Epplin, Francis M., 2006. "Economically Feasible Crop Production Alternatives to Peanuts in Southwestern Oklahoma," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35377, Southern Agricultural Economics Association.
    2. Alan T. K. Wan & Jinhong You & Riquan Zhang, 2016. "A Seemingly Unrelated Nonparametric Additive Model with Autoregressive Errors," Econometric Reviews, Taylor & Francis Journals, vol. 35(5), pages 894-928, May.
    3. Skully, David W., 1999. "The Economics Of Trq Administration," Working Papers 14584, International Agricultural Trade Research Consortium.
    4. Mohanty, Samarendu & Beghin, John C. & Kaus, Phillip J., 2001. "Impacts Of Federal Support Programs For Sugar And Peanuts Compared To Corn And Wheat On U.S. And World Markets," 2001 Annual meeting, August 5-8, Chicago, IL 20610, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Just, David R. & Kropp, Jaclyn D., 2009. "Production Incentives from Static Decoupling: Entry, Exit and Use Exclusion Restrictions," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49158, Agricultural and Applied Economics Association.
    6. María Bielza & Alberto Garrido & José M. Sumpsi, 2004. "Revenue insurance as an income stabilization policy: an application to the Spanish olive oil sector," Post-Print hal-01201063, HAL.
    7. Susanne Fricke & Lodovico Muratori, 2017. "Spatial price transmission and trade policies: new evidence for agricultural products from selected sub-Saharan African countries with high frequency data," Working Papers 5/17, Sapienza University of Rome, DISS.
    8. Fraser, Rob W., 1995. "A Note: A Clarification Of The Role Of Yield Uncertainty In Influencing Over-Quota Production," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 39(2), pages 1-5, August.
    9. Thurman, Walter N. & Chvosta, Jan & Brown, Blake A. & Rucker, Randal R., 2003. "The End Of Supply Controls: The Economic Effects Of Recent Change In Federal Peanut Policy," 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama 35041, Southern Agricultural Economics Association.
    10. Ramsey, A. Ford & Tack, Jesse B. & Balota, Maria, 2021. "Double or Nothing: Impacts of Warming on Crop Quantity, Quality, and Revenue," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 47(1), January.
    11. Nancy H. Chau & Harry de Gorter, 2005. "Disentangling the Consequences of Direct Payment Schemes in Agriculture on Fixed Costs, Exit Decisions, and Output," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(5), pages 1174-1181.
    12. Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2012. "Revenue Protection for Organic Producers: Too Much or Too Little?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), pages 1-20.
    13. Philipp Adämmer & Martin T. Bohl & Ernst-Oliver Ledebur, 2015. "Price Transmissions During Financialization and Turmoil: New Evidence from North American and European Agricultural Futures," CQE Working Papers 3815, Center for Quantitative Economics (CQE), University of Muenster.
    14. Ramsey, Austin F. & Goodwin, Barry K., 2024. "A Different 'Law of One Price:' Missouri's Livestock Marketing Law of 1999," 2024 Annual Meeting, July 28-30, New Orleans, LA 343679, Agricultural and Applied Economics Association.
    15. Hennessy, David A. & Wei, Wei, 2000. "Decisions and tradable production quota when yield is uncertain," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 44(2), pages 1-15.
    16. Balcilar, Mehmet & Hammoudeh, Shawkat & Asaba, Nwin-Anefo Fru, 2015. "A regime-dependent assessment of the information transmission dynamics between oil prices, precious metal prices and exchange rates," International Review of Economics & Finance, Elsevier, vol. 40(C), pages 72-89.
    17. Djuric, Ivan, 2014. "Impact of policy measures on wheat-to-bread supply chain during the global commodity price peaks: The case of Serbia," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 76, number 76.
    18. Jaclyn D. Kropp & Ani L. Katchova, 2011. "The effects of direct payments on liquidity and repayment capacity of beginning farmers," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 71(3), pages 347-365, November.
    19. Ivan Djuric & Linde Götz & Thomas Glauben, 2015. "Are Export Restrictions an Effective Instrument to Insulate Domestic Prices Against Skyrocketing World Market Prices? The Wheat Export Ban in Serbia," Agribusiness, John Wiley & Sons, Ltd., vol. 31(2), pages 215-228, April.
    20. Bielza, María & Garrido, Alberto & Sumpsi, José M., 2004. "Revenue insurance as an income stabilization policy: an application to the Spanish olive oil sector," Cahiers d'Economie et de Sociologie Rurales (CESR), Institut National de la Recherche Agronomique (INRA), vol. 70.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:joaaec:43744. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/saeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.