Econometric model for kenaf market in Thailand
1990
Motol Jeamchareon
Consumer price index is the factor which most consistently affected the total quantity demand for kenaf retted fiber. The values estimated of elasticity with respect to consumer price index, lagged price of sack and price itself are -0.72, 0.57 and -0.51, respectively. The importance of each independent variable in the planted area equation is almost the same. The value estimated of elasticity of planted area with respect to the ratio of the planted areas of kenaf and cassava lagged one year and the lagged price of kenaf and cassava are 0.32, 0.35 and 0.39, respectively. The main factor affecting yield per rai of kenaf is its lagged price deflated by the consumer price index. However, yield elasticities with respect to every variable are inelastic. The production of kenaf retted fiber is the most important factor affecting the farmgate price of kenaf retted fiber. The value estimate of elasticity with respect to production itself, the lagged price of kenaf retted fiber and the lagged price of sack are -0.96, 0.55 and 0.41, respectively.
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