The ongoing agrarian crisis in Punjab is becoming a centrestage issue as the farmers are reeling under debt arising from stagnant productivity and low profitability. The total debt burden on Punjab farmers is estimated to be Rs. 22943 crores and the debt per farm household is Rs. 218092. The level of education, non-farm income, farm size and non-institutional credit were the main factors which affect the level of farmers’ indebtedness. The farmers face a large number of problems in availing institutional credit which drives them to fall into the debt trap of the crafty and exploitative non-institutional sources of credit. There is a need to strengthen the existing credit delivery system to accelerate growth of the farming sector for evacuating the peasantry from the incessant debt trap.
{"title":"Magnitude and Determinants of Indebtedness Among Farmers in Punjab","authors":"Sukhpal Singh, S. Bhogal, Randeep Singh","doi":"10.22004/AG.ECON.206379","DOIUrl":"https://doi.org/10.22004/AG.ECON.206379","url":null,"abstract":"The ongoing agrarian crisis in Punjab is becoming a centrestage issue as the farmers are reeling under debt arising from stagnant productivity and low profitability. The total debt burden on Punjab farmers is estimated to be Rs. 22943 crores and the debt per farm household is Rs. 218092. The level of education, non-farm income, farm size and non-institutional credit were the main factors which affect the level of farmers’ indebtedness. The farmers face a large number of problems in availing institutional credit which drives them to fall into the debt trap of the crafty and exploitative non-institutional sources of credit. There is a need to strengthen the existing credit delivery system to accelerate growth of the farming sector for evacuating the peasantry from the incessant debt trap.","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115205585","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Commodity futures market plays an important role in price discovery, the information on which helps the producers to plan their activities on production, processing, storage, and marketing of commodities. It is generally argued that price discovery is more efficient in futures market than spot market (Brockman and Tse, 1995; Yang and Leatham, 1999). The availability and effective dissemination of information helps to stabilise and decreases spot price volatility. Thus, futures trading infuse efficiency in the functioning of a commodity market (Tomek, 1980; Karnade, 2006). In general, futures prices reflect the collective expectations of market agents about prospective demand and supply of commodities at maturity of futures contract. Since the futures prices are a reflection of futures demand and supply conditions of markets, they provide market signals to the farmers for deciding the appropriate cropping pattern. If future prices are falling, then it implies either future demand would fall or the supplies would ease out and vice versa. Through hedging, farmers can mitigate the price risk that they may face in the spot market with volatile prices. It enables traders to buy the crop during harvest season, paying the farmers with fair prices, which are reflective of its “scarcity value”. Storing them until the new harvest and releasing it in small quantities will maintain price stability between crop seasons as being done mostly by the intermediaries. However, even in the well functioning markets, the movement of spot and futures prices would not be perfectly parallel, so it can only reduce risks through executing opposite selling and buying in two markets rather than altogether removing them. On the contrary, it is argued that futures trading affect the spot markets by increasing price volatility in the spot markets. This is based on the assumption that future markets are thin and thus inefficient and the spot traders tend to follow the
商品期货市场在价格发现方面发挥着重要作用，它提供的信息有助于生产者计划其商品的生产、加工、储存和销售活动。一般认为，价格发现在期货市场比现货市场更有效(Brockman和Tse, 1995;Yang and Leatham, 1999)。信息的可用性和有效传播有助于稳定和减少现货价格的波动。因此，期货交易为商品市场的运作注入了效率(Tomek, 1980;Karnade, 2006)。一般来说，期货价格反映了市场主体对期货合约到期时商品预期需求和供给的集体预期。由于期货价格反映了市场的期货供求状况，因此期货价格为农民决定合适的种植方式提供了市场信号。如果未来的价格下降，那么这意味着未来的需求会下降，或者供应会减少，反之亦然。通过套期保值，农民可以减轻他们在现货市场上可能面临的价格波动风险。它使贸易商能够在收获季节购买作物，以公平的价格支付给农民，这反映了其“稀缺价值”。将它们储存到新的收获季节，并少量释放，将保持作物季节之间的价格稳定，因为这主要是由中间商完成的。然而，即使在运作良好的市场中，现货和期货价格的走势也不会完全平行，因此只能通过在两个市场中执行相反的卖出和买入来降低风险，而不是完全消除风险。相反，有人认为期货交易通过增加现货市场的价格波动来影响现货市场。这是基于这样的假设，即未来市场很薄，因此效率很低，现货交易员倾向于跟随市场的走势
{"title":"Price Discovery in India’s Agricultural Commodity Futures Markets","authors":"K. Elumalai, N. Rangasamy, R. Sharma","doi":"10.22004/AG.ECON.204633","DOIUrl":"https://doi.org/10.22004/AG.ECON.204633","url":null,"abstract":"Commodity futures market plays an important role in price discovery, the information on which helps the producers to plan their activities on production, processing, storage, and marketing of commodities. It is generally argued that price discovery is more efficient in futures market than spot market (Brockman and Tse, 1995; Yang and Leatham, 1999). The availability and effective dissemination of information helps to stabilise and decreases spot price volatility. Thus, futures trading infuse efficiency in the functioning of a commodity market (Tomek, 1980; Karnade, 2006). In general, futures prices reflect the collective expectations of market agents about prospective demand and supply of commodities at maturity of futures contract. Since the futures prices are a reflection of futures demand and supply conditions of markets, they provide market signals to the farmers for deciding the appropriate cropping pattern. If future prices are falling, then it implies either future demand would fall or the supplies would ease out and vice versa. Through hedging, farmers can mitigate the price risk that they may face in the spot market with volatile prices. It enables traders to buy the crop during harvest season, paying the farmers with fair prices, which are reflective of its “scarcity value”. Storing them until the new harvest and releasing it in small quantities will maintain price stability between crop seasons as being done mostly by the intermediaries. However, even in the well functioning markets, the movement of spot and futures prices would not be perfectly parallel, so it can only reduce risks through executing opposite selling and buying in two markets rather than altogether removing them. On the contrary, it is argued that futures trading affect the spot markets by increasing price volatility in the spot markets. This is based on the assumption that future markets are thin and thus inefficient and the spot traders tend to follow the","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115337621","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Marketing Policies for Agriculture","authors":"J. R. Bowring, H. Southworth, F. V. Waugh","doi":"10.22004/ag.econ.231100","DOIUrl":"https://doi.org/10.22004/ag.econ.231100","url":null,"abstract":"","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116613577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Food and Nutrition Situation in India","authors":"P. V. Sukhatme","doi":"10.1201/b18288-36","DOIUrl":"https://doi.org/10.1201/b18288-36","url":null,"abstract":"","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134554588","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Status and Levels of Living-A Methodological Study","authors":"L. Krishnamurthy","doi":"10.22004/AG.ECON.231586","DOIUrl":"https://doi.org/10.22004/AG.ECON.231586","url":null,"abstract":"","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"160 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122837850","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Teaching of Agricultural Economics: Report on Discussion","authors":"N. Rath","doi":"10.22004/AG.ECON.272317","DOIUrl":"https://doi.org/10.22004/AG.ECON.272317","url":null,"abstract":"","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125194517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A geographical region encompassing more liberal economic laws than a country’s typical economic laws can be referred to as a Special Economic Zone (SEZ). A policy of setting up of SEZ was introduced in India on April 1, 2000 with a view to providing a more competitive free trade environment for exports. During the period from November 1, 2000 to February 9, 2006, the SEZs in India operated under the provisions of the Foreign Trade Policy. In fact, India was the first Asian country to recognise the importance and effectiveness of Export Processing Zone (EPZ) and the first EPZ came into being in 1965 in Kandla, Gujarat. But, since then not much has been done to the strengthening of EPZs in India. In 2000, therefore, the government replaced the earlier regime of EPZ by a new scheme of SEZs, which encompassed a number of potential benefits that were missing in the earlier scheme. In May 2005, the SEZ Act was passed by the Parliament and SEZ Rules came into force from February 10, 2006, which not only simplified procedures but also extended single window clearance for matters relating to central as well as state governments. The SEZ Rules provide for different minimum land requirement for different class of SEZs. The promotion of SEZs is expected to tackle wide range of structural bottlenecks created by monetary, fiscal, taxation, trade, tariff and labour policies, apart from overcoming complex procedures and infrastructure deficiencies (Aggarwal, 2006). It has been argued that since development of infrastructure requires huge capital investment and as implementation of structural reforms is a time consuming process, the establishment of SEZs would be the only realistic strategy governing the process of industrialisation. Although SEZs offer numerous benefits, there are also various positive as well as negative features associated with the establishment of SEZs in India. It is, therefore, essential to analyse not only the potential benefits of SEZs but also the likely impact of establishment of SEZs on agricultural production, employment, water and food security. This paper is an attempt in this direction and it specifically focuses on benefits of establishing SEZs, their current status in terms of
{"title":"Special Economic Zones in India: A Review of Investment, Trade, Employment Generation and Impact Assessment","authors":"D. Shah","doi":"10.22004/AG.ECON.204643","DOIUrl":"https://doi.org/10.22004/AG.ECON.204643","url":null,"abstract":"A geographical region encompassing more liberal economic laws than a country’s typical economic laws can be referred to as a Special Economic Zone (SEZ). A policy of setting up of SEZ was introduced in India on April 1, 2000 with a view to providing a more competitive free trade environment for exports. During the period from November 1, 2000 to February 9, 2006, the SEZs in India operated under the provisions of the Foreign Trade Policy. In fact, India was the first Asian country to recognise the importance and effectiveness of Export Processing Zone (EPZ) and the first EPZ came into being in 1965 in Kandla, Gujarat. But, since then not much has been done to the strengthening of EPZs in India. In 2000, therefore, the government replaced the earlier regime of EPZ by a new scheme of SEZs, which encompassed a number of potential benefits that were missing in the earlier scheme. In May 2005, the SEZ Act was passed by the Parliament and SEZ Rules came into force from February 10, 2006, which not only simplified procedures but also extended single window clearance for matters relating to central as well as state governments. The SEZ Rules provide for different minimum land requirement for different class of SEZs. The promotion of SEZs is expected to tackle wide range of structural bottlenecks created by monetary, fiscal, taxation, trade, tariff and labour policies, apart from overcoming complex procedures and infrastructure deficiencies (Aggarwal, 2006). It has been argued that since development of infrastructure requires huge capital investment and as implementation of structural reforms is a time consuming process, the establishment of SEZs would be the only realistic strategy governing the process of industrialisation. Although SEZs offer numerous benefits, there are also various positive as well as negative features associated with the establishment of SEZs in India. It is, therefore, essential to analyse not only the potential benefits of SEZs but also the likely impact of establishment of SEZs on agricultural production, employment, water and food security. This paper is an attempt in this direction and it specifically focuses on benefits of establishing SEZs, their current status in terms of","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122168690","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"People's Participation and Social Forestry: A Case Study of Himachal Pradesh","authors":"K. P. Chand, R. Singh","doi":"10.22004/AG.ECON.270071","DOIUrl":"https://doi.org/10.22004/AG.ECON.270071","url":null,"abstract":"","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129909335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Wani, F. Shaheen, S. Baba, F. Naqash, Muzaffer Mazoor
This paper examines value chains for milk, mutton, wool and pashmina fibre in the mountainous state of Jammu and Kashmir using survey data collected from livestock producers, market functionaries including institutional and non-institutional buyers. Vendors dominate the milk market, but for dairy farmers selling milk to them is not as remunerative as to the institutional buyers. The state is deficit in mutton and imports almost half of its requirements from neighbouring states. Most of the wool produced in the state is exported. Butchers and traders of Ladakh are important market functionaries in market for pashmina fibre. The study has also identified institutional failures in livestock markets, and suggests strengthening integrated value chains for livestock products as to enable livestock producers capture benefits of expanding demand for livestock products.
{"title":"Value Chains for Livestock Products in himalayan Mountains: Studies from Jammu and Kashmir","authors":"S. Wani, F. Shaheen, S. Baba, F. Naqash, Muzaffer Mazoor","doi":"10.22004/ag.econ.229833","DOIUrl":"https://doi.org/10.22004/ag.econ.229833","url":null,"abstract":"This paper examines value chains for milk, mutton, wool and pashmina fibre in the mountainous state of Jammu and Kashmir using survey data collected from livestock producers, market functionaries including institutional and non-institutional buyers. Vendors dominate the milk market, but for dairy farmers selling milk to them is not as remunerative as to the institutional buyers. The state is deficit in mutton and imports almost half of its requirements from neighbouring states. Most of the wool produced in the state is exported. Butchers and traders of Ladakh are important market functionaries in market for pashmina fibre. The study has also identified institutional failures in livestock markets, and suggests strengthening integrated value chains for livestock products as to enable livestock producers capture benefits of expanding demand for livestock products.","PeriodicalId":273401,"journal":{"name":"Indian journal of agricultural economics","volume":"101 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134598488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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