FACTORS AFFECTING SUPPLY, DEMAND, AND PRICES OF U.S. RICE

Warren R. Grant, John Beach and William Lin

No 277629, Staff Reports from United States Department of Agriculture, Economic Research Service

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.

Keywords: Crop Production/Industries; Demand and Price Analysis (search for similar items in EconPapers)
Pages: 61
Date: 1984-10
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:277629

DOI: 10.22004/ag.econ.277629

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