Econometric analysis of the supply and demand for groundnut in Thailand
1988
Roongtipa Tantitavorn
On the supply side, the elasticities of the current planted area of groundnut with respect to its planted area in the previous year, farm prices of groundnut and soybean in the previous period were 0.7750,0.2936 and -0.3752, respectively. On the demand side, the own price flexibility coefficients of groundnut, groundnut oil and groundnut cake were -0.4272,-0.1906 and -0.0893, separately. Finally, the elasticity of price transmission from the Bangkok wholesale price to farm price for groundnut was 0.9747. The seasonal farm price index of groundnut was the highest in June,113.20, and the lowest in November,86.04. The highest wholesale price index of groundnut was 106.65 in April, and the lowest 93.93 in November. The direction of changes in farm price and wholesale price of groundnut was alike. The wholesale price index of groundnut oil and groundnut cake changed slightly. In the long run, the farm price of groundnut, wholesale price of groundnut, groundnut oil and groundnut cake tended to increase 1.72,3.81,16.83 and 4.16 baht per kilogram per annum, respectively.
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