should the prevailing market price be below the pre-specified MSP. In this paper, we consider a market consisting of infinitesimally small, rational, and strategic farmers (with heterogeneous production costs) who face market and yield uncertainties. Our equilibrium analysis reveals that (i) Although both cost subsidy and MSP induce more production, cost subsidy leads to a higher crop production than MSP; (ii) MSP improves farmer's and consumer's surpluses; however, cost subsidy improves consumer's surplus but it can decrease farmer's surplus, which is unexpected; (iii) Although both programs achieve the same optimal net value (i.e., sum of farmer's and consumer's surpluses minus shortage cost and expenditure), MSP always o ers higher farmer's surplus than cost subsidy and (iv) it is beneficial to invest only in cost subsidy, in both cost subsidy and MSP, and only in MSP, when the budget availability is low, moderate, and high, respectively, so that the net surplus (i.e., sum of farmer's and consumer's surpluses less the shortage cost) is also maximized along with the net value generated being maximized
{"title":"Crop Minimum Support Price versus Cost Subsidy: Farmer and Consumer Welfare","authors":"Prashant Chintapalli, Christopher S. Tang","doi":"10.2139/ssrn.3934848","DOIUrl":"https://doi.org/10.2139/ssrn.3934848","url":null,"abstract":"should the prevailing market price be below the pre-specified MSP. In this paper, we consider a market consisting of infinitesimally small, rational, and strategic farmers (with heterogeneous production costs) who face market and yield uncertainties. Our equilibrium analysis reveals that (i) Although both cost subsidy and MSP induce more production, cost subsidy leads to a higher crop production than MSP; (ii) MSP improves farmer's and consumer's surpluses; however, cost subsidy improves consumer's surplus but it can decrease farmer's surplus, which is unexpected; (iii) Although both programs achieve the same optimal net value (i.e., sum of farmer's and consumer's surpluses minus shortage cost and expenditure), MSP always o ers higher farmer's surplus than cost subsidy and (iv) it is beneficial to invest only in cost subsidy, in both cost subsidy and MSP, and only in MSP, when the budget availability is low, moderate, and high, respectively, so that the net surplus (i.e., sum of farmer's and consumer's surpluses less the shortage cost) is also maximized along with the net value generated being maximized","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129898733","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}
The issue of utilization of sludge from wastewater treatment in agriculture is an important socio-economic and environmental problem in the European Union and Bulgaria. Its significance is determined by the fact that the amount of sludge formed is constantly growing, as the annual amount of sludge produced in Europe is 8.7 million dry matter, and in Bulgaria reaches 53 thousand tons of dry matter. One of the main ways to utilize sludge from wastewater treatment is its use as fertilizer in agriculture. It is becoming a topical issue along with the growing interest in effective “transformation of wastes into products” and their inclusion in supply chains and circular economy. In other countries, there are numerous studies on the effects, factors and efficiencies of sludge use in agriculture. Despite their relevance, in-depth studies of the diverse effects and critical factors of sludge utilization in Bulgarian agriculture are at an early stage. This paper presents the results of the first part of a large-scale study aimed at determining the socio-economic effects of sludge utilization in Bulgarian agriculture. First, an approach is presented to assess the multilateral effects, efficiencies and factors of sludge utilization in agriculture. Then the various factors stimulating and limiting the utilization of sludge in Bulgarian farms are identified. The results of a case study of a holding using sludge as fertilizer are then presented. Based on a qualitative analysis of regulations and institutional structure, and surveys with managers and experts of urban wastewater treatment plants, and farmers using and not-using sludge, the institutional, political, organizational, personal, educational, informational, social, economic, and environmental factors influencing the utilization of sludge in agriculture in two regions of the country (Sofia and Burgas) are identified. Impact factors are generally divided into two types: factors influencing the behavior of agents, and factors determining the type and extent of the effects of sludge use in agriculture. Research of this type is to continue and deepen to establish the economic, sectoral and regional specificities on the basis of more representative information from all participants and interested parties in the effective utilization of sludge in the country.
{"title":"Efficiency and factors for agricultural use of sludge in circular Bulgarian economy","authors":"Hrabrin Bachev Храбрин Башев, B. Ivanov","doi":"10.2139/ssrn.3926273","DOIUrl":"https://doi.org/10.2139/ssrn.3926273","url":null,"abstract":"The issue of utilization of sludge from wastewater treatment in agriculture is an important socio-economic and environmental problem in the European Union and Bulgaria. Its significance is determined by the fact that the amount of sludge formed is constantly growing, as the annual amount of sludge produced in Europe is 8.7 million dry matter, and in Bulgaria reaches 53 thousand tons of dry matter. One of the main ways to utilize sludge from wastewater treatment is its use as fertilizer in agriculture. It is becoming a topical issue along with the growing interest in effective “transformation of wastes into products” and their inclusion in supply chains and circular economy. In other countries, there are numerous studies on the effects, factors and efficiencies of sludge use in agriculture. Despite their relevance, in-depth studies of the diverse effects and critical factors of sludge utilization in Bulgarian agriculture are at an early stage. This paper presents the results of the first part of a large-scale study aimed at determining the socio-economic effects of sludge utilization in Bulgarian agriculture. First, an approach is presented to assess the multilateral effects, efficiencies and factors of sludge utilization in agriculture. Then the various factors stimulating and limiting the utilization of sludge in Bulgarian farms are identified. The results of a case study of a holding using sludge as fertilizer are then presented. Based on a qualitative analysis of regulations and institutional structure, and surveys with managers and experts of urban wastewater treatment plants, and farmers using and not-using sludge, the institutional, political, organizational, personal, educational, informational, social, economic, and environmental factors influencing the utilization of sludge in agriculture in two regions of the country (Sofia and Burgas) are identified. Impact factors are generally divided into two types: factors influencing the behavior of agents, and factors determining the type and extent of the effects of sludge use in agriculture. Research of this type is to continue and deepen to establish the economic, sectoral and regional specificities on the basis of more representative information from all participants and interested parties in the effective utilization of sludge in the country.","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132416701","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}
Over the years, there have been a number of pandemics around the world, and some of them are still occurring today. COVID-19, a corona virus, is currently sweeping the globe, with a large number of variants having already infected a significant number of people a life’s work. As a result of this, the World Health Organization declared a global health emergency. And this review study examines the impact of COVID-19 on GDP, inflation and employment in a comprehensive manner in a Sri Lanka context: economic impact, employment, poverty, tourism, and Small medium enterprises (SMEs). This paper provides a visual representation of the data has found that the pandemic had severe impacts on agriculture, industry, and service sector. Moreover, COVID-19 had a negative impact on the tourism, construction, transportation, hotel, and apparel industries, while increasing the overall unemployment rate. A rise in the unemployment rate was accompanied by an increase in the poverty line as a result of job losses. This review is more specific. There are three main factors that influence the inflation rate in the past also valid and timely proofs. Theoretically, there is inflationary pressure on the economy of Sri Lanka. In addition, Colombo stock due to the COVID-19 outbreak, the exchange in Sri Lanka is financially unstable. For example, that we get in agriculture there was a huge loss. (The total export revenue of tea was USD 347.3 Mn in 2019 and it was reduced by 270.1 USD Mn in January to March in 2020. Earnings from some of other agricultural sectors such as fruits and vegetable products (15.9 USD Mn), coconut production (136. 9 USD Mn) have significantly decreased in March 2020 compared to March 2019. In 2019 from January to June, earning from tourism was 1,901USD whereas it was the least amount of 956 (from January to June) in 2020. As a result of these cases, the economy is in a critical state.
{"title":"COVID-19 Pandemic-Induced Economic in Sri Lanka Eye","authors":"Vishwanadhan Vinishya","doi":"10.2139/ssrn.3909392","DOIUrl":"https://doi.org/10.2139/ssrn.3909392","url":null,"abstract":"Over the years, there have been a number of pandemics around the world, and some of them are still occurring today. COVID-19, a corona virus, is currently sweeping the globe, with a large number of variants having already infected a significant number of people a life’s work. As a result of this, the World Health Organization declared a global health emergency. And this review study examines the impact of COVID-19 on GDP, inflation and employment in a comprehensive manner in a Sri Lanka context: economic impact, employment, poverty, tourism, and Small medium enterprises (SMEs). This paper provides a visual representation of the data has found that the pandemic had severe impacts on agriculture, industry, and service sector. Moreover, COVID-19 had a negative impact on the tourism, construction, transportation, hotel, and apparel industries, while increasing the overall unemployment rate. A rise in the unemployment rate was accompanied by an increase in the poverty line as a result of job losses. This review is more specific. There are three main factors that influence the inflation rate in the past also valid and timely proofs. Theoretically, there is inflationary pressure on the economy of Sri Lanka. In addition, Colombo stock due to the COVID-19 outbreak, the exchange in Sri Lanka is financially unstable. For example, that we get in agriculture there was a huge loss. (The total export revenue of tea was USD 347.3 Mn in 2019 and it was reduced by 270.1 USD Mn in January to March in 2020. Earnings from some of other agricultural sectors such as fruits and vegetable products (15.9 USD Mn), coconut production (136. 9 USD Mn) have significantly decreased in March 2020 compared to March 2019. In 2019 from January to June, earning from tourism was 1,901USD whereas it was the least amount of 956 (from January to June) in 2020. As a result of these cases, the economy is in a critical state.","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120953566","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}
O. Akinleye, Risikat Oladoyin S. Dauda, O. Iwegub, O. Popogbe
This study investigated the impact of COVID-19 pandemic on the health, food security and financial lives of Nigerian households. The data for the study were collected using a questionnaire for 813 households from the six geo-political zones in Nigeria and the results were analysed using descriptive statistics and ordinal logistic regression model. The findings showed that the COVID-19 pandemic has affected households’ personal savings significantly. Majority of the households’ healthcare financing is borne out of their personal income and savings in the absence of a health insurance scheme. Households experiencing worse financial status largely do not have food during the pandemic. Many households have a positive expectation that they will recover from the unfavourable financial condition they are currently experiencing and there is a strong traditional support system existing in the localities during the study period. Food insecurity during the pandemic was significantly occasioned by increases in prices, fall in income and adverse financial well-being. The study thus suggested, among others, the need to urgently enhance the economic and financial well-being of the Nigerian populace to guide against the worsening and devastating impact of the COVID-19 pandemic on food security in Nigerian households.
{"title":"Impact of COVID-19 Pandemic on Financial Health and Food Security: a Survey-Based Analysis","authors":"O. Akinleye, Risikat Oladoyin S. Dauda, O. Iwegub, O. Popogbe","doi":"10.2139/ssrn.3619245","DOIUrl":"https://doi.org/10.2139/ssrn.3619245","url":null,"abstract":"This study investigated the impact of COVID-19 pandemic on the health, food security and financial lives of Nigerian households. The data for the study were collected using a questionnaire for 813 households from the six geo-political zones in Nigeria and the results were analysed using descriptive statistics and ordinal logistic regression model. The findings showed that the COVID-19 pandemic has affected households’ personal savings significantly. Majority of the households’ healthcare financing is borne out of their personal income and savings in the absence of a health insurance scheme. Households experiencing worse financial status largely do not have food during the pandemic. Many households have a positive expectation that they will recover from the unfavourable financial condition they are currently experiencing and there is a strong traditional support system existing in the localities during the study period. Food insecurity during the pandemic was significantly occasioned by increases in prices, fall in income and adverse financial well-being. The study thus suggested, among others, the need to urgently enhance the economic and financial well-being of the Nigerian populace to guide against the worsening and devastating impact of the COVID-19 pandemic on food security in Nigerian households.<br>","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131700015","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}
The study was carried out since June, 2020. The major objective was to see the credit impacts on agriculture production in rural area of Pakistan. Secondary data was used and total 32 articles were downloaded from the net and read many times and draw the result. The result indicates that without credit agriculture development in Pakistan is impossible. Therefore the government has established different banks in rural area of Pakistan. Among these the ZTBL, HBL, UBL, Cooperative, Alfalah, Khyber banks, Muslim commercial banks are the well known banks in Pakistan which provide credits to farmers in rural area of Pakistan. The Pakistani farmers are very poor and they have no money for purchasing inputs in the country because of this, the per acre production is very less than the developed countries. In developed countries the government provide multiple loan on easy term to the farmers and they also give subsidy and support price to farmer in the countries and there the marketing system is also developed while these facilities in the developing countries are poor and they sell their products to middle men on very low price and the targeted price they do not achieve, So in developing countries the farmers always poor and they never capable to purchase inputs in proper time for their agriculture activity. The agriculture credit impact on the agriculture production was found positive in Pakistan while in Pakistan the influential farmer get the loan very easily while the poor and small farmer have no access to these facilities in the country. The loan share in Punjab is 85 percent while the remaining part of the country get only 15% loan in the whole amount of agriculture credit. The process of the loan is very complicated and in time the loan is not available to farmer for their inputs purchasing. Some farmers get the loan while the interest rate is very high and the return of the loan is very difficult and sometime sell their land for returning the loan. The bank staff behaved very badly with the farmer in getting the loan. Similarly the loan amount is very less than the requirement while in some area the religious people do not allow the loan from the bank and tell that it is interest which is prohibited in Islam. On the basis of problems the study recommend that to provide huge amount loan to farmer in Pakistan for enhancing agriculture production; Support price should be imposed on agriculture output in the country; Subsidies price should be put on the inputs in the country; Free based education should be provided to farmer children in the country; Free based hospital should be constructed for health services to farmers in the country; Market facilities should be developed for farmer in the country; High quality varieties of all crop should be provided to farmers in the country; All farmers should be exempted from the tax in the country; Bank number should be increased for provision of loan to farmer in the country; Monitoring set up should be deve
{"title":"Credit Impact on Agriculture Production in Pakistan","authors":"N. Khan, S. Fahad, M. Naushad, S. Faisal","doi":"10.2139/ssrn.3618660","DOIUrl":"https://doi.org/10.2139/ssrn.3618660","url":null,"abstract":"The study was carried out since June, 2020. The major objective was to see the credit impacts on agriculture production in rural area of Pakistan. Secondary data was used and total 32 articles were downloaded from the net and read many times and draw the result. The result indicates that without credit agriculture development in Pakistan is impossible. Therefore the government has established different banks in rural area of Pakistan. Among these the ZTBL, HBL, UBL, Cooperative, Alfalah, Khyber banks, Muslim commercial banks are the well known banks in Pakistan which provide credits to farmers in rural area of Pakistan. The Pakistani farmers are very poor and they have no money for purchasing inputs in the country because of this, the per acre production is very less than the developed countries. In developed countries the government provide multiple loan on easy term to the farmers and they also give subsidy and support price to farmer in the countries and there the marketing system is also developed while these facilities in the developing countries are poor and they sell their products to middle men on very low price and the targeted price they do not achieve, So in developing countries the farmers always poor and they never capable to purchase inputs in proper time for their agriculture activity. The agriculture credit impact on the agriculture production was found positive in Pakistan while in Pakistan the influential farmer get the loan very easily while the poor and small farmer have no access to these facilities in the country. The loan share in Punjab is 85 percent while the remaining part of the country get only 15% loan in the whole amount of agriculture credit. The process of the loan is very complicated and in time the loan is not available to farmer for their inputs purchasing. Some farmers get the loan while the interest rate is very high and the return of the loan is very difficult and sometime sell their land for returning the loan. The bank staff behaved very badly with the farmer in getting the loan. Similarly the loan amount is very less than the requirement while in some area the religious people do not allow the loan from the bank and tell that it is interest which is prohibited in Islam. On the basis of problems the study recommend that to provide huge amount loan to farmer in Pakistan for enhancing agriculture production; Support price should be imposed on agriculture output in the country; Subsidies price should be put on the inputs in the country; Free based education should be provided to farmer children in the country; Free based hospital should be constructed for health services to farmers in the country; Market facilities should be developed for farmer in the country; High quality varieties of all crop should be provided to farmers in the country; All farmers should be exempted from the tax in the country; Bank number should be increased for provision of loan to farmer in the country; Monitoring set up should be deve","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123910703","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}
Pub Date : 2020-06-01DOI: 10.22487/agroland.v7i1.275
Joko Pranoto, A. Utomo, Muhamad Fathul Muin
The highest decrease in the number of food crop workers occurred in Java, as many as 2,87 million people in 2007-2014. The age of food crop agriculture workers in Java is dominated by workers aged over 45 years (64,95%). If there is no addition of new workers, then the food crop labor will be increasingly dominated by old age groups which will make it difficult for the agricultural sector to carry out its mandate to improve and maintain sustainable food security. The purpose of this study is to describe the condition of the food crop agriculture subsector from the aspect of labor absorption in Java for the period 2007-2014 and analyze the effect of the regional GDP of food crops subsector, real wages, education, and land area to the absorption power of agricultural food crops subsector on labor in Java. Central Java Province is a province with the largest decrease in the number of agricultural food crop subsector workers compared to the other four provinces on Java island. From the results of the estimation, the fixed-effect model with cross-section SUR is chosen as the best model. The results show that the variable of regional GDP, real wage, and size of land area has a significant and positive effect on the labor absorption of agricultural food crops subsector, while education has a significant and negative effect. Overall this model able to explain variations of this phenomenon by 89,32%. Meanwhile, another 10,68% is explained by other variables not included in the model.
{"title":"Performance Labor in Agriculture Sector in Java Island Using Panel Data 2007-2014","authors":"Joko Pranoto, A. Utomo, Muhamad Fathul Muin","doi":"10.22487/agroland.v7i1.275","DOIUrl":"https://doi.org/10.22487/agroland.v7i1.275","url":null,"abstract":"The highest decrease in the number of food crop workers occurred in Java, as many as 2,87 million people in 2007-2014. The age of food crop agriculture workers in Java is dominated by workers aged over 45 years (64,95%). If there is no addition of new workers, then the food crop labor will be increasingly dominated by old age groups which will make it difficult for the agricultural sector to carry out its mandate to improve and maintain sustainable food security. The purpose of this study is to describe the condition of the food crop agriculture subsector from the aspect of labor absorption in Java for the period 2007-2014 and analyze the effect of the regional GDP of food crops subsector, real wages, education, and land area to the absorption power of agricultural food crops subsector on labor in Java. Central Java Province is a province with the largest decrease in the number of agricultural food crop subsector workers compared to the other four provinces on Java island. From the results of the estimation, the fixed-effect model with cross-section SUR is chosen as the best model. The results show that the variable of regional GDP, real wage, and size of land area has a significant and positive effect on the labor absorption of agricultural food crops subsector, while education has a significant and negative effect. Overall this model able to explain variations of this phenomenon by 89,32%. Meanwhile, another 10,68% is explained by other variables not included in the model.","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127938239","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}
The electronic trading platform for agri-food products could improve the efficiency and effectiveness of food trade and strengthen Poland’s position on the global market. In Poland, there has been no such solution so far, hence the Ministry of Agriculture and Rural Development has taken the initiative to create an electronic trading platform called “Food Platform”. Its essence will consist in matching secure buy and sell transactions. The purpose of the paper is to identify groups of products recommended for trade on the Food Platform in terms of domestic and foreign turnover. The study identifies sectors of the Polish food industry, with the most significant share, and identified agricultural products that are particularly important for Polish agriculture. In other words, the agri-food sectors that could potentially deliver products to the sales platform were selected. Next, this selection was verified in terms of the possibility of trade activities on the world market. The analysis shows that the product groups recommended for trade on the Food Platform are: cereals, rapeseed, sugar, fruit and vegetables, milk, red meat and poultry meat, together with their preserves. The selection of specific products which may be the subject of commercial transactions on the sales platform will result from further detailed analyzes of individual agri-food markets.
{"title":"Identification of Product Groups Recommended for Trade on the Food Platform in Terms of Domestic and Foreign Turnover","authors":"I. Szczepaniak, Łukasz Ambroziak, J. Drożdż","doi":"10.30858/zer/115187","DOIUrl":"https://doi.org/10.30858/zer/115187","url":null,"abstract":"The electronic trading platform for agri-food products could improve the efficiency and effectiveness of food trade and strengthen Poland’s position on the global market. In Poland, there has been no such solution so far, hence the Ministry of Agriculture and Rural Development has taken the initiative to create an electronic trading platform called “Food Platform”. Its essence will consist in matching secure buy and sell transactions. The purpose of the paper is to identify groups of products recommended for trade on the Food Platform in terms of domestic and foreign turnover. The study identifies sectors of the Polish food industry, with the most significant share, and identified agricultural products that are particularly important for Polish agriculture. In other words, the agri-food sectors that could potentially deliver products to the sales platform were selected. Next, this selection was verified in terms of the possibility of trade activities on the world market. The analysis shows that the product groups recommended for trade on the Food Platform are: cereals, rapeseed, sugar, fruit and vegetables, milk, red meat and poultry meat, together with their preserves. The selection of specific products which may be the subject of commercial transactions on the sales platform will result from further detailed analyzes of individual agri-food markets.","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124274714","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}
Our study seeks to provide a better understanding of price formation process and determining factors of price volatility in agricultural commodity markets. We focus on corn and soybean futures traded in CBOT (Chicago Board of Trade). We innovatively construct two sets of variables to represent fundamental changes and market structure of the commodity markets. Fundamental changes are captured by the deviations of the supply and demand condition estimates released by USDA from the pre-announcement analysts’ forecasts published by Bloomberg. We employ the transaction databases of CFTC (Commodity Futures Trading Commission) to construct the percentage shares of detailed participation group trading in the market. While fundamental changes are based on public observations and analysis, transaction percentage shares of trader groups are private information of individual traders. Both the fundamental surprises and the market structure related variables are found to have statistically significant effects on price and price volatility. Furthermore, the impacts vary across quantiles of the conditional distributions.
{"title":"Fundamental Surprises, Market Structure, and Price Formation in Agricultural Commodity Futures Markets","authors":"Xiaodong Du, S. Kane","doi":"10.2139/ssrn.3378223","DOIUrl":"https://doi.org/10.2139/ssrn.3378223","url":null,"abstract":"Our study seeks to provide a better understanding of price formation process and determining factors of price volatility in agricultural commodity markets. We focus on corn and soybean futures traded in CBOT (Chicago Board of Trade). We innovatively construct two sets of variables to represent fundamental changes and market structure of the commodity markets. Fundamental changes are captured by the deviations of the supply and demand condition estimates released by USDA from the pre-announcement analysts’ forecasts published by Bloomberg. We employ the transaction databases of CFTC (Commodity Futures Trading Commission) to construct the percentage shares of detailed participation group trading in the market. While fundamental changes are based on public observations and analysis, transaction percentage shares of trader groups are private information of individual traders. Both the fundamental surprises and the market structure related variables are found to have statistically significant effects on price and price volatility. Furthermore, the impacts vary across quantiles of the conditional distributions.","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124341745","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}
Physio-chemical properties of sugar syrup produced from two varieties of yam (Dioscorea dumetorum and Dioscorea alata) using exogenous enzymes were studied. Starch and flour samples of two yam varieties (Dioscorea dumetorum and Dioscorea alata) were converted into sugar syrup by enzyme hydrolysis using exogenous enzymes. The sprouted and unsprouted tubers were processed into dried starch by washing, peeling, and milling; stirring, settling for about 6 hours; the supernatant was decanted and the sediment which contained the starch was filtered with muslin cloth and oven-dried at 70oC for 30minutes to produce the dry starch. The sprouted and unsprouted tubers were also processed into fine flour by drying, milling and sieving with a 0.8 mm sieve. Alpha and Beta amylase enzymes were used in the syrup production. Physiochemical analysis was carried out on the syrup and results obtained were subjected to statistical analysis using analysis of variance (One-way ANOVA). The results obtained show that the pH values ranged from 4.45 to 5.65 while the moisture content values ranged from 67.42 to 72.25%; the dextrose equivalent results for the samples were 26.68, 26.47, 29.64, 27.13, 29.56, 26.34, 30.15 and 24.79% for the un-sprouted Dioscorea dumentorum flour (UD), sprouted Dioscorea dumetorum flour (SD), un-sprouted Dioscorea alata flour (UA), sprouted Dioscorea alata flour (SA), un-sprouted Dioscorea dumetorum starch (UDS), sprouted Dioscorea dumetorum starch (SDS), un-sprouted Dioscorea alata starch (UAS) and sprouted Dioscorea alata starch (SAS) respectively. This indicates that sample UAS had the highest level of hydrolysis. For the sugar syrups; sample SD had the highest viscosity value (950.05cp) while sample UA had the lowest value (835.10cp). The specific gravity of the sugar syrup samples ranged from 1.16 to 1.29 with sample SDS having the highest value and sample UD having the lowest value. Result from the analysis on sugar concentration (disaccharides) showed that the highest maltose concentration was recorded in sample SDS (57.27%) and the lowest was obtained in sample UA (51.65%). The glucose concentration of the sugar syrup samples ranged from 1.55 to 2.05%; sample SA recorded the lowest value of 1.55% while UAS recorded the highest value of 2.05%. The maltotriose, raffinose and starchyose concentrations of the sugar syrup samples ranged from 7.39 to 7.76%, 0.12 to 023% and 0.93 to 1.15% respectively. Results of this work suggest that sugar syrup can be made from underutilized yam species.
{"title":"Physio-Chemical Properties of Sugar Syrup Produced From Two Varieties of Yam (Dioscorea dumetorum and Dioscorea alata) Using Exogenous Enzymes","authors":"D. Okafor, M. Chukwu","doi":"10.31248/RJFSN2018.055","DOIUrl":"https://doi.org/10.31248/RJFSN2018.055","url":null,"abstract":"Physio-chemical properties of sugar syrup produced from two varieties of yam (Dioscorea dumetorum and Dioscorea alata) using exogenous enzymes were studied. Starch and flour samples of two yam varieties (Dioscorea dumetorum and Dioscorea alata) were converted into sugar syrup by enzyme hydrolysis using exogenous enzymes. The sprouted and unsprouted tubers were processed into dried starch by washing, peeling, and milling; stirring, settling for about 6 hours; the supernatant was decanted and the sediment which contained the starch was filtered with muslin cloth and oven-dried at 70oC for 30minutes to produce the dry starch. The sprouted and unsprouted tubers were also processed into fine flour by drying, milling and sieving with a 0.8 mm sieve. Alpha and Beta amylase enzymes were used in the syrup production. Physiochemical analysis was carried out on the syrup and results obtained were subjected to statistical analysis using analysis of variance (One-way ANOVA). The results obtained show that the pH values ranged from 4.45 to 5.65 while the moisture content values ranged from 67.42 to 72.25%; the dextrose equivalent results for the samples were 26.68, 26.47, 29.64, 27.13, 29.56, 26.34, 30.15 and 24.79% for the un-sprouted Dioscorea dumentorum flour (UD), sprouted Dioscorea dumetorum flour (SD), un-sprouted Dioscorea alata flour (UA), sprouted Dioscorea alata flour (SA), un-sprouted Dioscorea dumetorum starch (UDS), sprouted Dioscorea dumetorum starch (SDS), un-sprouted Dioscorea alata starch (UAS) and sprouted Dioscorea alata starch (SAS) respectively. This indicates that sample UAS had the highest level of hydrolysis. For the sugar syrups; sample SD had the highest viscosity value (950.05cp) while sample UA had the lowest value (835.10cp). The specific gravity of the sugar syrup samples ranged from 1.16 to 1.29 with sample SDS having the highest value and sample UD having the lowest value. Result from the analysis on sugar concentration (disaccharides) showed that the highest maltose concentration was recorded in sample SDS (57.27%) and the lowest was obtained in sample UA (51.65%). The glucose concentration of the sugar syrup samples ranged from 1.55 to 2.05%; sample SA recorded the lowest value of 1.55% while UAS recorded the highest value of 2.05%. The maltotriose, raffinose and starchyose concentrations of the sugar syrup samples ranged from 7.39 to 7.76%, 0.12 to 023% and 0.93 to 1.15% respectively. Results of this work suggest that sugar syrup can be made from underutilized yam species.","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115859768","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}
Purpose The purpose of this paper is to propose an improved reinsurance pricing framework, which includes a crop yield forecasting model that integrates weather variables and crop production information from different geographically correlated regions using a new credibility estimator, and closed form reinsurance pricing formulas. A yield restatement approach to account for changing crop mix through time is also demonstrated. Design/methodology/approach The new crop yield forecasting model is empirically analyzed based on detailed farm-level data from Manitoba, Canada, covering 216 crop varieties from 19,238 farms from 1996 to 2011. As well, corresponding weather data from 30 stations, including daily temperature and precipitation, are considered. Algorithms that combine screening regression, cross-validation and principal component analysis are evaluated for the purpose of achieving efficient dimension reduction and model selection. Findings The results show that the new yield forecasting model provides significant improvements over the classical regression model, both in terms of in-sample and out-of-sample forecasting abilities. Research limitations/implications The empirical analysis is limited to data from the province of Manitoba, Canada, and other regions may show different results. Practical implications This research is useful from a risk management perspective for insurers and reinsurers, and the framework may also be used to develop improved weather risk management strategies to help manage adverse weather events. Originality/value This is the first paper to integrate a credibility estimator for crop yield forecasting, and develop a closed form reinsurance pricing formula.
{"title":"A Credibility-Based Yield Forecasting Model for Crop Reinsurance Pricing and Weather Risk Management","authors":"Wenjun Zhu, Lysa Porth, K. S. Tan","doi":"10.2139/ssrn.2663932","DOIUrl":"https://doi.org/10.2139/ssrn.2663932","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to propose an improved reinsurance pricing framework, which includes a crop yield forecasting model that integrates weather variables and crop production information from different geographically correlated regions using a new credibility estimator, and closed form reinsurance pricing formulas. A yield restatement approach to account for changing crop mix through time is also demonstrated.\u0000\u0000\u0000Design/methodology/approach\u0000The new crop yield forecasting model is empirically analyzed based on detailed farm-level data from Manitoba, Canada, covering 216 crop varieties from 19,238 farms from 1996 to 2011. As well, corresponding weather data from 30 stations, including daily temperature and precipitation, are considered. Algorithms that combine screening regression, cross-validation and principal component analysis are evaluated for the purpose of achieving efficient dimension reduction and model selection.\u0000\u0000\u0000Findings\u0000The results show that the new yield forecasting model provides significant improvements over the classical regression model, both in terms of in-sample and out-of-sample forecasting abilities.\u0000\u0000\u0000Research limitations/implications\u0000The empirical analysis is limited to data from the province of Manitoba, Canada, and other regions may show different results.\u0000\u0000\u0000Practical implications\u0000This research is useful from a risk management perspective for insurers and reinsurers, and the framework may also be used to develop improved weather risk management strategies to help manage adverse weather events.\u0000\u0000\u0000Originality/value\u0000This is the first paper to integrate a credibility estimator for crop yield forecasting, and develop a closed form reinsurance pricing formula.\u0000","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126365031","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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