Production and supply response of milk in Pakistan: Price and non-price determinants
2013
Chattha, M.W.A. (University of Sydney (Australia). Faculty of Agriculture, Food and Natural Resource) | Fatima, A. (University of Sydney (Australia). Faculty of Agriculture and Environment) | Bakhsh, K. (University of Agriculture, Faisalabad (Pakistan). Inst. of Agricultural and Resource Economics) | Hassan, S.
The present study was designed to estimate milk supply response to price and non-price factors in order to devise appropriate policy for fetching competitive market price by the producers, encouraging investment in the dairy sector and thus, enhanced milk production. Cobb Douglas production function was employed to estimate the determinants of milk supply response function in Pakistan using ordinary least square (OLS) method. The study made use of time series data from the year 1972 onward. Results of the production function show that milk production is more responsive to non-price variables; whereas, it has relatively inelastic responsiveness to price factors. Thus, there is need to strengthen existing and/or create new infrastructure to facilitate the milk supply.
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