An Empirical Analysis of Demand for U.S. Soybeans in the Philippines

Jewelwayne Cain, Joe Parcell () and Yasutomo Kojima

No 162458, 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas from Southern Agricultural Economics Association

Abstract: To determine if the downward trend in U.S. market share of Philippine soybean imports is due either to inherent quality differences between soybeans from three competing exporting countries or to relative price changes, we analyze import quantity shares and relative prices of soybeans from Canada, China, and the U.S. to the Philippines. Results show that the Philippine soybeans import market exhibit low elasticity of import substitution, which implies greater rigidity in preferences. This reflects a market that is relatively more quality conscious. Market share trends, preference parameters, and price elasticities indicate strong preference by the Philippine market for U.S. soybeans relative to those from Canada and China. The downward trend in US market share can be explained by quality preferences rather than price factors.

Keywords: Crop Production/Industries; Demand and Price Analysis; International Relations/Trade; Marketing; Production Economics (search for similar items in EconPapers)
Pages: 20
Date: 2014
New Economics Papers: this item is included in nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:ags:saea14:162458

DOI: 10.22004/ag.econ.162458

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