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Agricultural Policy: High Commodity and Input Prices

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  • Schmitz, Andrew
  • Furtan, Hartley
  • Schmitz, Troy G.

Abstract

Because of high commodity prices, beginning in 2006, subsidies to farmers in the United States, the European Union, and Canada have been reduced significantly. However, significant losses have been experienced by the red meat sector, along with escalating food prices. Because of rising input costs, the “farm boom” may not be as great as first thought. Ethanol made from corn and country-of-origin labeling cloud the U.S. policy scene. Higher commodity prices have caused some countries to lower tariff and non-tariff barriers, resulting in freer commodity trade worldwide. Policymakers should attempt to make these trade-barrier cuts permanent and should rethink current policy legislation to deal with the possibility of a collapse of world commodity markets. Agricultural commodity prices have dropped significantly since early 2008.

Suggested Citation

  • Schmitz, Andrew & Furtan, Hartley & Schmitz, Troy G., 2009. "Agricultural Policy: High Commodity and Input Prices," Agricultural and Resource Economics Review, Cambridge University Press, vol. 38(1), pages 18-35, April.
    • Handle: RePEc:cup:agrerw:v:38:y:2009:i:01:p:18-35_00
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    Cited by:

    1. Elsholz, Rudiger & Harsche, Johannes, 2011. "Price Changes, Policy Impacts and Instability in Farmers’ Revenues," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114342, European Association of Agricultural Economists.
    2. Rudiger Elsholz & Johannes Harsche, 2014. "Determinants of regional disparities in farm income: markets or policy?," Economia agro-alimentare, FrancoAngeli Editore, vol. 16(1), pages 13-36.

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