An Econometric Analysis Of The United States Palm Oil Market PDF Download
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Author | : Zulkifli Bin Senteri |
Publisher | : |
Total Pages | : 274 |
Release | : 1985 |
Genre | : Econometrics |
ISBN | : |
Download An Econometric Analysis of the United States Palm Oil Market Book in PDF, ePub and Kindle
World palm oil production and exports have been increasing since the early seventies. If this trend continues and if the consuming countries do not increase consumption, a surplus may occur leading to low palm oil prices and income for the producing countries. The general objective of this study is to investigate why palm oil imports into the United States increased and decreased drastically over the study period. The model consists of a world fats and oils price relationship, the United States palm oil demand equation and a stock function, and definitional relationships consisting of quantity of palm oil imported, demanded and supplied, and change in the world price of palm oil. The fats and oils prices were grouped into vegetable oils and animal fats instead of including them individually in the equations to reduce the multicollinearity problem. The results show that palm oil is a substitute for vegetable oils and animal fats. The results also show that producers of manufactured fats were slow to respond to changes in the fats and oils market conditions. In the short run, the elasticities are elastic for own-price (-4.14) and cross-price with respect to animal fats (1.90) but inelastic with respect to vegetable oils (0.49). However, in the long run all of the elasticities are elastic. Thus palm oil is competitive in the United States market provided its prices remain lower than the overall fats and oils prices and it can be more versatile in term of end uses. The stock function estimated shows that palm oil is stored for more than a year. Thus palm oil is held not only for pipeline purposes but also speculation, delay in response and error in judgement. The demand function was expanded to investigate if there are changes in the parameters over time. While the F statistic is highly significant, the inconsistencies in the expected sign and t values of the coefficients of the unrestricted demand function make it hard to draw firm conclusions about the economic meaning of these results.
Author | : John Albert Dwyer |
Publisher | : |
Total Pages | : 234 |
Release | : 1977 |
Genre | : |
ISBN | : |
Download An Econometric Model of the World Palm Oil Market and Policy Implications for the United States Book in PDF, ePub and Kindle
Author | : George Wayne Kromer |
Publisher | : |
Total Pages | : 20 |
Release | : 1969 |
Genre | : Palm oil |
ISBN | : |
Download U.S. Consumption of Imported Palm Oil Increasing Book in PDF, ePub and Kindle
Author | : Stephen Paul Adolph Brown |
Publisher | : |
Total Pages | : 12 |
Release | : 1989 |
Genre | : Petroleum industry and trade |
ISBN | : |
Download An econometric analysis of U.S. oil demand Book in PDF, ePub and Kindle
Author | : R. J. Vandenborre |
Publisher | : |
Total Pages | : 58 |
Release | : 1967 |
Genre | : Soy oil |
ISBN | : |
Download An Econometric Analysis of the Markets for Soybean Oil and Soybean Meal Book in PDF, ePub and Kindle
The soybean oil and soybean meal markets: a descriptive survey; The palce of soybean oil; Production of fats and oils; Consumption; The United States soybean sector; An econometric model of the United States soybean oil and soybean meal markets; The economic model; The stochastic model; Results of the statistical estimation; Implications and conclusions.
Author | : United States. Department of Agriculture. Economic Research Service. Economic and Statistical Analysis Division |
Publisher | : |
Total Pages | : 35 |
Release | : 1973 |
Genre | : |
ISBN | : |
Download Economic Situation and Outlook For Tallow and Palm Oil in the United States Book in PDF, ePub and Kindle
Author | : Ali Alwi |
Publisher | : |
Total Pages | : 388 |
Release | : 1997 |
Genre | : Commodity control |
ISBN | : |
Download An Economic Analysis of Trade Liberalization in the International Market for Palm and Related Oils Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 72 |
Release | : 1978 |
Genre | : Foreign trade regulation |
ISBN | : |
Download USITC Publication Book in PDF, ePub and Kindle
Author | : Anand Pon |
Publisher | : |
Total Pages | : 188 |
Release | : 1981 |
Genre | : Palm oil industry |
ISBN | : |
Download Price Analysis and Price Forecasting of Palm Oil Using an Econometric Model Book in PDF, ePub and Kindle
Author | : NAZIBROLA LORDKIPANIDZE |
Publisher | : |
Total Pages | : 0 |
Release | : 1998 |
Genre | : |
ISBN | : |
Download An Economic Analysis of Import Demand for Canola Oil in the United States Book in PDF, ePub and Kindle
The study analyzes the impacts of economic and noneconomic factors on import demand for canola oil. The import demand pattern for canola oil in the United States is influenced by changes in the world's oilseeds market and government oilseeds programs and policies, including tariffs and subsidies. The U.S. import demand for canola oil was specified as a function of its own import price, prices of substitute edible vegetable oils (soybean oil and palm oil), disposable personal income, the Canadian-U.S. dollar exchange rate, lagged imports, trend factor, and seasonality. Generalized Least Squares (GLS) was employed to estimate equation parameters. Based on analysis of monthly data for January 1989 through October 1993, U.S. import demand for canola oil was influenced mostly by prices of substitute vegetable oils (soybean and palm oils), the U.S.-Canadian exchange rate, and the change in consumers' tastes and preferences. The elimination of tariffs and subsidies under the auspices of the U.S.-Canadian Free Trade Agreement and the passage of the 1990 U.S. Farm Bill should lead to the continued expansion of canola and canola oil production in the United States. Moreover, canola oil may continue to gain in market share in the United states due to consumer preference for its health benefits driving consumption upward with rising pressure on price.