Estimation of the Price of Rices to Be Imported

Yong Sagong

Journal of Rural Development/Nongchon-Gyeongje, 2006, vol. 29, issue 01

Abstract: According to a conclusion of renegotiation for the exemption of tariffication in Korean rice, Korea should import rice for table using. In this paper, we estimate how much the consumer prices of imported rices are sold and thus how much Korean government can impose the mark-up on imported rices. However, since Korean people has an experience to consume foreign rice, consumption share functions for various brands of domestic and foreign rice are estimated by using the method suggested recently by Sakong(2006). Estimated consumption share functions together with supply functions are simultaneously solved to search the equilibrium prices of each brands. Chinese rice is estimated to be sold a little below at the price of domestic rice with low quality while America rice is estimated to be sold at a little higher price than the price of domestic rice with low quality.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jordng:288384

DOI: 10.22004/ag.econ.288384

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