International markets for livestock and livestock feed: their role in livestock development in Asia
1982
Lattimore, R.G. (Agriculture Canada, Ottawa (Canada). Commodity Markets Analysis Division)
The objective of this paper is to provide an international perspective to livestock sector policy in Asia. It first examines selected commercial implications of world markets for livestock products and feedstuff, especially for importing countries in Asia. The international markets for these products are characterized by expansion, significant year to year price fluctuations, and major policy distortions, all typical of world agricultural markets. Importing as well as exporting countries can benefit considerably from improved market monitoring and research from a national perspective. International markets also need to be considered from a policy perspective. With adjustments, world prices can serve as a useful reference point for domestic production, consumption, and price policies. It will not normally be desirable to accept unadjusted border prices as domestic prices, because this policy often leads to unacceptably high price variability. In such situations, risk averse policy makers will choose to set domestic prices somewhat higher than the world price for stability reasons and give appropriate incentives to domestic producers.
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