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The economics of commercializing new industrial crops

Author

Listed:
  • Paul N. Wilson

    (Department of Agricultural and Resource Economics, The University of Arizona)

  • James C. Wade

    (Department of Agricultural and Resource Economics, The University of Arizona)

  • Julie P. Leones

    (Department of Agricultural and Resource Economics, The University of Arizona)

Abstract

New industrial crops are promoted as enterprises that will raise farm sector income, provide economic development activities for rural areas, and provide products that will substitute for imports from other nations. A conceptual model, based on the principles of strategic management, is developed for analyzing the economics of commercializing industrial crops. The model is applied to the oil derived from Lesquerella, a possible substitute for castor oil which is used in lubricants, cosmetics, and waxes. Botanical and chemical entrepreneurship are emphasized as key factors in the successful commercialization of new industrial crops. © 1995 by John Wiley & Sons, Inc.

Suggested Citation

  • Paul N. Wilson & James C. Wade & Julie P. Leones, 1995. "The economics of commercializing new industrial crops," Agribusiness, John Wiley & Sons, Ltd., vol. 11(1), pages 45-55.
    • Handle: RePEc:wly:agribz:v:11:y:1995:i:1:p:45-55
    DOI: 10.1002/1520-6297(199501/02)11:1<45::AID-AGR2720110106>3.0.CO;2-H
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    Cited by:

    1. Justus Ochieng & Beatrice Knerr & George Owuor & Emily Ouma, 2020. "Food crops commercialization and household livelihoods: Evidence from rural regions in Central Africa," Agribusiness, John Wiley & Sons, Ltd., vol. 36(2), pages 318-338, April.

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