Agricultural Marketing examines the principles and practices of economic analysis to cultivate an understanding of how agricultural and food markets operate. After an introduction that discusses some of the most frequently encountered economic measurements of market status, a basic framework is presented for the analysis of economic activities that link agricultural production with food consumption. Coverage then explores both the spatial and temporal dimensions of agricultural markets. For those interested in international agricultural and food marketing, economics, and production.
This textbook addresses the main economic principles required by agricultural economists involved in rural development. The principles of 'micro-economics' or 'price-theory' are of relevance to economists everywhere, but this book reinforces the message of their relevance for rural development by explaining the theory in the specific context of the agricultural and food sectors of developing countries. Hypothetical and actual empirical illustrations drawn almost exclusively from such countries distinguish this book from other economic principles texts that draw their examples almost invariably from industrialised countries, and also from books more oriented to the issue of rural development. The first half of the book deals with the underlying principles of production, supply and demand. These are essential tools for the study and management of the agricultural sector and food markets. In the second half, supply and demand are bought together into a chapter of equilibrium and exchange. This is followed by chapters on trade and the theory of economic welfare. In the final chapter it is shown that much of the material in the earlier chapters can be combined by agricultural economists into a system for analysing and comparing the effects of alternative agricultural policies. The ability of agricultural economics to provide a consistent framework for the analysis of policy problems thus enables it to make a key contribution to rural development.
This book showcases the power of economic principles to explain and predict issues and current events in the food, agricultural, agribusiness, international trade, natural resources and other sectors. The result is an agricultural economics textbook that provides students and instructors with a clear, up-to-date, and straightforward approach to learning how a market-based economy functions, and how to use simple economic principles for improved decision making. While the primary focus of the book is on microeconomic aspects, agricultural economics has expanded over recent decades to include issues of macroeconomics, international trade, agribusiness, environmental economics, natural resources, and international development. Hence, these topics are also provided with significant coverage.
The globalization of goods, services and capital for agriculture is fundamental to the future of developing countries and has major implications for the fight against poverty and sustainability of the environment. In recent years, agriculture has once again returned to a position of centre stage as food price volatility has led countries to re-examine their development strategies. This new edition of the essential textbook in the field builds on the 2006 original and reflects the following developments: the increased impact of climate change issues affecting agricultural markets such as bio-fuels, the rise in farm prices and energy costs the move to higher valued agricultural products The book contains a wealth of real world case studies and is now accompanied by a website that includes powerpoint lectures, a photo bank and a large set of discussion and exam questions. The accompanying website is available to view at http://ecagdev.agecon.vt.edu/
This book answers the questions: what is happening to American agriculture, and why? Steven C. Blank uses portfolio theory to analyze both macro- and microeconomic data that paints a clear picture of the trends in agriculture, and explains why these trends are consistent with market evolution and global economic development. He clarifies agriculture's specific role in economic development with a focus on the current and future globalizing commodity markets. The book features empirical research that demonstrates the link between farm-level investment decisions and regional and national economic trends. It shows how the dynamic environment of industrialization and globalization of agriculture is part of a continuing development that is driven by technological innovation. This all points to a future with a very different agricultural production sector and some extremely important policy choices that will face the entire country.
Food and food markets still enjoy a pivotal role in the world economy and the international food industry is moving towards greater consolidation and globalization, with increased vertical integration and changes to market structure. Companies grow bigger in order to obtain economies of scale and issues and such as food security, quality, obesity and health are ever important factors. This book describes the link between food markets and food companies from a theoretical and a business economics perspective. The relationships, trends and impacts on the international food market are presented, and the topic is related to actual business conditions. Each chapter is accompanied by questions and assignments designed to help students in their learning. .
This book analyzes the economics of the food industry at every stage between the farm gate and the kitchen counter. Central to the text are agricultural marketing problems such as the allocation of production between competing products (such as fresh and frozen markets), spatial competition, interregional trade, optimal storage, and price discrimination. Topics covered will be useful to students who expect to have careers such as food processing management, food sector buying or selling, restaurant management, supermarket management, marketing/advertising, risk management, and product development. The focus is on real world-relevant skills and examples and on intuition and economic understanding above mathematical sophistication, although the text does draw on the nuances of modern economic theory.
Growers, packers, processors, and distributors of apples who wish to survive into the twenty-first century need to understand that they are now operating in an interconnected world market. The World Apple Market explains in lay terms the economics of the changes taking place in each phase of the apple business and assists firms in weighing decisions on organization, adoption of new technology, distribution systems and other crucial areas, allowing them to adjust operations and refocus their activities for the future. Readers will find the best available data on current industry operations and practices in this book, which is helpful to both established firms and new operators in reviewing their practices. Author A. Desmond O?Rourke describes evolving world apple supply and demand, changing distribution systems, and governmental and other societal pressure to which the industry must respond. Throughout, the book focuses on the economic forces which affect firm and industry profitability and even more specifically, it focuses on how to maintain cost efficiency while maintaining the quality of a perishable product. The World Apple Market explains the economics of practical decisionmaking at every level of the apple industry. This is crucial information for managers of operations that grow, pack, process, and market apples. As changes in market demand, distribution systems, and government regulation continue to alter the environment for decisionmaking, this book assists all involved in the apple market from researchers and extension agents, to industry associations, suppliers, and apple promoters, to government planners, students planning to enter the apple industry, and investors weighing the feasibility of participating in the industry at any level.
