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Welfare Impact of Asymmetric Price Transmission on Bangladesh Rice Consumers

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  • Rahman, Mohammad Chhiddikur

Abstract

The study examined the pattern of vertical price transmission of rice market in Bangladesh. The dynamic relationship of rice prices along the supply chain was analyzed. The impact of rice price transmission on the consumer welfare was assessed. The market power along the supply chain has been measured. Based on the findings, policy has been suggested for efficient rice marketing to improve consumer welfare through reduction of market power. Monthly farm, wholesale and retail rice prices covering the period October 2005 to June 2017 were collected from the Department of Agricultural Marketing, Bangladesh. Yearly price, demand, population and income data were collected from the Bangladesh Bureau of Statistics and Bangladesh Financial Review. The co-integrating bound test under autoregressive distribution lag approach, Vartia's algorithm for welfare measure, stochastic frontier approach for market power, and descriptive statistics were applied. Results of the study indicated the presence of asymmetric relationship both in speed and magnitude among the prices at farm, wholesale, and retail levels. That is, significant asymmetric effects are both long run and short run. Empirical results suggest that processors (wholesalers/millers) enjoy a certain advantage over primary producers (farmers) and that retailers enjoy a certain advantage over processors. Moreover, final consumers are more likely to experience a decrease in their surplus from a price increase rather than to experience an increase in their surplus from a price decrease at the upstream. Although the welfare (consumer surplus) loss for each consumer due to price transmission asymmetry was very low, the aggregate welfare loss was much significant. The study also revealed that both the rice millers and wholesalers exerted a high degree of market power. The positive value of the Lerner Index confirmed that the rice market in Bangladesh was not competitive. It also indicated the existence of market influence domina
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Suggested Citation

  • Rahman, Mohammad Chhiddikur, 2020. "Welfare Impact of Asymmetric Price Transmission on Bangladesh Rice Consumers," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 242248, September.
    • Handle: RePEc:zbw:esthes:242248
    DOI: 10.13140/RG.2.2.12951.39844
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    1. Harshana, P.V.S. & Ratnasiri, Shyama, 2023. "Asymmetric price transmission along the supply chain of perishable agricultural commodities: A nonlinear ARDL approach," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    2. Mohammad Chhiddikur Rahman & Valerien O. Pede & Jean Balié, 2022. "Welfare impact of asymmetric price transmission on rice consumers in Bangladesh," Review of Development Economics, Wiley Blackwell, vol. 26(3), pages 1600-1617, August.
    3. Rahman, Mohammad Chhiddikur & Rahaman, Md. Shajedur & Islam, Mohammad Ariful & Omar, Md. Imran & Siddique, Md. Abu Bakr, 2021. "Deployment Strategies for Golden Rice in Bangladesh: A Study on Affordability and Varietal Choice with the Target Beneficiaries," EconStor Preprints 241994, ZBW - Leibniz Information Centre for Economics.

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