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Determinants of Foodgrain Prices in India: An Empirical Study, 1961-83

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  • C. Bhujangarao

    (Institute of Economic Growth)

Abstract

This paper attempts to analyse the importance of agricultural input costs in the determination of foodgrain prices in India. The analysis pertains to the period 1961 through 1983 during which agriculture and in particular food production has become input intensive. Consequently, technology (yield) and input costs are expected to play an important role in the explanation of foodgrain prices. The present study analyses the differential price behaviour in the two sub-periods 1961-62 through 1969-70 and 1970-71 through 1982-83. It reveals the importance of money supply to GDP ratio, representing demand factors and stocks of foodgrains to public distribution, representing supply aspects in both the pre and post green revolution periods. However, in the later period, yield and agricultural input costs have as expected, turned out to be of considerable importance.

Suggested Citation

  • C. Bhujangarao, 1987. "Determinants of Foodgrain Prices in India: An Empirical Study, 1961-83," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 22(1), pages 51-77, January.
    • Handle: RePEc:dse:indecr:v:22:y:1987:i:1:p:51-77
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    Cited by:

    1. Gopakumar K.U. & V. Pandit, 2014. "Production, Procurement And Inflation-A Market Model For Food Grains," Working papers 238, Centre for Development Economics, Delhi School of Economics.
    2. Gopakumar K.U. & V. Pandit, 2014. "Price Movements For Rice And Wheat - A Structuralist Policy Perspective," Working papers 240, Centre for Development Economics, Delhi School of Economics.

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