Estimating the effect of prices in some international markets on the demand for sudanese hashab (acacia senegal L.) gum
2005
Sharawi, H.A.(University of Khartoum, Shambat (Sudan). Faculty of Forestry, Dept. of Forest Management) | Adam, Y.O.(University of Khartoum, Shambat (Sudan). Faculty of Forestry, Dept. of Forest Management)
This study was designed mainly to carry out a detailed analysis of the demand of individual markets for Hashab (Acacia senegal L.) gum in order to find out the effect of Hashab gum prices on its demand in international markets. Specifically, the study attempted to develop and estimate demand models for the major importing contriies as individual markets, and estimate price elasticity for Hashab gum in international markets. A demand model consisting of a group of single equations was estimated, using OLS technique, and tested using various economic, statistic and econometric criteria. The results showed that the United Kingdom, France, and the United States markets were relatively price inelastic (price elasticities of demand were 0.752, 0.3659 and 0.831, respectively). In the United Kingdom market, in particular, it was found that Talh (Acacia seyal Del.) gum has been a substitute for Hashab gum, while Nigerian Hashab gum was a complementary g ood for Sudanese Hashab gum. It was found that in the German market Hashab gum demand is price elastic (1.707) and that Talh gum is used as a substitute for Hashab gum. The study concludes that gum markets behaved differently, and that although price was a factor affecting demand, its effect was not substantial in many markets and that other factors which are probably playing greater roles will need to be investigated
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