An E-V Analysis of Pricing Alternatives for Long-Term Marketing Contracts*

Steven T. Buccola and Ben C. French

Journal of Agricultural and Applied Economics, 1977, vol. 9, issue 2, 17-23

Abstract: Increased use of marketing contracts by agricultural firms has stimulated a modest amount of literature in which the principles of decision theory are applied to the contracting problem. Much of this literature has focused on farmers' choices between cash and futures market positions. Others have modeled the influence of annual open market and fixed forward price options on farm growth objectives. Little or no attention has been paid to expressed interest, especially among processors, for suitable long-term (multi-annual) contract price formulae and for a theoretical framework through which to evaluate them. This paper attempts to provide this service in special regard to the tomato and tomato paste contracting problems of a U.S. fruit and vegetable processing cooperative.

Date: 1977
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