Demand, supply and price analysis of cotton in Thailand
1985
Chinta Rayawa
In general, 70 percent of the cotton used in Thailand was imported, while 30 percent came from domestic production. Statistical analysis of demand and supply indicated that the factors affecting cotton production were depended upon previous year's farm price of seed cotton, area planted and farm price of maize. Among these, price of seed cotton in the previous year was the most important variable. Yield of seed cotton depended upon it's farm price in the previous year and the amount of rainfall in the current year. The elasticity of yield with respect to rainfall was 0.84. The price elaticities of area planted and yield were 0.46 and 0.45, respectively. Cotton import depended upon the ratio between current farm price and import price of cotton, import duty for cotton, and time trend. The elasticity of cotton imports with respect to the ratio between current farm price and import price of cotton was -0-88, with respect to import duty, 0.66 in absolute terms. Domestic consumption of cotton depended upon farm price of seed cotton, per capita income, and time trends. The elasticity of domestic demand for cotton with respect to its own price was 0.44 in absolute terms. The income elasticity was 0.42. The results showed that demand and supply of Thai cotton were relatively price inelastic
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