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An Empirical Analysis of Demand for U.S. Soybeans in the Philippines

Author

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  • Cain, Jewelwayne S.
  • Parcell, Joseph L.
  • Kojima, Yasutomo

Abstract

To determine if the downward trend in U.S. market share of Philippine soybean imports is due either to inherent quality differences between soybeans from three competing exporting countries or to relative price changes, we analyze import quantity shares and relative prices of soybeans from Canada, China, and the U.S. to the Philippines. Results show that the Philippine soybeans import market exhibit low elasticity of import substitution, which implies greater rigidity in preferences. This reflects a market that is relatively more quality conscious. Market share trends, preference parameters, and price elasticities indicate strong preference by the Philippine market for U.S. soybeans relative to those from Canada and China. The downward trend in US market share can be explained by quality preferences rather than price factors.

Suggested Citation

  • Cain, Jewelwayne S. & Parcell, Joseph L. & Kojima, Yasutomo, 2014. "An Empirical Analysis of Demand for U.S. Soybeans in the Philippines," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162458, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea14:162458
    DOI: 10.22004/ag.econ.162458
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    References listed on IDEAS

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    1. Houck, James P. & Ryan, Mary E., 1978. "Market Share Analysis and the International Market for Fats and Oils," Economic Reports 8473, University of Minnesota, Department of Applied Economics.
    2. Wilson, William W. & Gallagher, Paul W., 1990. "Quality Differences And Price Responsiveness Of Wheat Class Demands," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(2), pages 1-11, December.
    3. Wilson, William W. & Gallagher, Paul, 1990. "Quality Differences and Price Responsiveness of Wheat Class Demands," ISU General Staff Papers 199012010800001447, Iowa State University, Department of Economics.
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    Keywords

    Crop Production/Industries; Demand and Price Analysis; International Relations/Trade; Marketing; Production Economics;
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