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Factors Affecting Supply, Demand, And Prices Of U.S. Rice

Author

Listed:
  • Grant, Warren R.
  • Beach, John
  • Lin, William

Abstract

This technical analysis updates the interrelationships of economic, institutional, and physical factors that affect supply, demand, and prices for U.S. rice in an earlier ERS report. Rice yields are affected by the climatic conditions in each area, technological changes, area in rice, and other factors. Lagged farm price did not appear to influence rice yields during 1950-83. Farm price deflated by cost of production, Government programs, and previous acreage affects area seeded to rice. Production response to a price change (elasticity) varies from 0.06 in Arkansas to 0.18 in California. Income and population are major variables affecting food rice and brewers rice consumption. Changes in retail price have a minor impact on demand. Total world exports are more elastic than U.S. exports, indicating U.S. commercial exports are moving into differentiated markets with a differentiated product.

Suggested Citation

  • Grant, Warren R. & Beach, John & Lin, William, 1984. "Factors Affecting Supply, Demand, And Prices Of U.S. Rice," Staff Reports 277629, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:277629
    DOI: 10.22004/ag.econ.277629
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    References listed on IDEAS

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    1. Grant, Warren R. & Moore, Donald S., 1970. "Alternative Government Rice Programs: An Economic Evaluation," Agricultural Economic Reports 307408, United States Department of Agriculture, Economic Research Service.
    2. Kost, William E., 1980. "Model Validation And The Net Trade Model," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 32(2), pages 1-16, April.
    3. Bianchi, Carlo & Calzolari, Giorgio & Corsi, Paolo, 1981. "Estimating asymptotic standard errors and inconsistencies of impact multipliers in nonlinear econometric models," Journal of Econometrics, Elsevier, vol. 16(3), pages 277-294, August.
    4. J. P. Houck & M. E. Ryan, 1972. "Supply Analysis for Corn in the United States: The Impact of Changing Government Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(2), pages 184-191.
    5. Houck, James P. & Ryan, Mary E., 1972. "Supply Analysis For Corn In The United States: The Impact Of Changing Government Programs," Staff Papers 13554, University of Minnesota, Department of Applied Economics.
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    Cited by:

    1. Ito, Shoichi & Peterson, E. Wesley F. & Mainali, Bharat & Rosegrant, Mark W., 1999. "Estimates for Evolution of U.S. Rice Supply Response Using Implicit Revenue Functions: Implications to the World Food Supply and Trade," Japanese Journal of Agricultural Economics (formerly Japanese Journal of Rural Economics), Agricultural Economics Society of Japan (AESJ), vol. 1.
    2. Lin, William W., 1986. "Effects Of Farm Commodity Programs: The Cases Of Corn And Rice," 1986 Annual Meeting, July 27-30, Reno, Nevada 278431, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Gardiner, Walter H. & Dixit, Praveen M, 1987. "Price Elasticity of Export Demand: Concepts and Estimates," Foreign Agricultural Economic Report (FAER) 305286, United States Department of Agriculture, Economic Research Service.
    4. Ash, Mark S. & Lin, William, 1987. "Regional Crop Yield Response for U.S. Grains," Agricultural Economic Reports 308033, United States Department of Agriculture, Economic Research Service.
    5. Ito, Shoichi & Grant, Warren R. & Rister, M. Edward, 1986. "Impacts Of Technol Gy Aiiption On The U.S. Rice Economy - The Case Of High Yielding Semidwarfs," 1986 Annual Meeting, July 27-30, Reno, Nevada 278499, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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