ECONOMIC IMPACT OF CANCELLING PESTICIDE X USE ON SOYBEANS

Roger Selley, Dennis Cory and Lewis Daugherty

No 279379, 1981 Annual Meeting, July 26-29, Clemson, South Carolina from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The yield reduction and increase in cost of production due to the cancellation of pesticide X is estimated to result in a 8.39 per cent increase in the price of soybeans. A single product (soybeans) supply-demand model was used to estimate the impact of cancellation. The net impact upon producers is estimated to be a reduction of profits of $106.8 million. The Lake States and the Corn Belt realize an increase in profits while other regions suffer losses. The reduction in consumer welfare is estimated at approximately $1.2 billion for domestic and foreign consumers ($3.55 per capita for U.S. consumers). The implications of the major simplifying assumptions used in the model are discussed briefly.

Keywords: Productivity; Analysis (search for similar items in EconPapers)
Pages: 21
Date: 1981-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea81:279379

DOI: 10.22004/ag.econ.279379

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