Journal Article

Some Productivity-Increasing and Quality-Changing Technology for the Soybean Complex: Market and Welfare Effects

Paul W. Gallagher

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 80, issue 1, pages 165-174
Published in print February 1998 | ISSN: 0002-9092
Published online February 1998 | e-ISSN: 1467-8276 | DOI: http://dx.doi.org/10.2307/3180278
Some Productivity-Increasing and Quality-Changing Technology for the Soybean Complex: Market and Welfare Effects

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Simulations suggest that soybeans with less protein and more oil would alter quality and change quantities on the market. Substitution toward other protein feeds, like fishmeal, would mitigate the benefits from restricted soymeal supply. Thus, there would not be a net welfare gain for the United States, only a redistribution of benefits. But a joint yield increase and composition change would benefit the United States, mainly because livestock producers would pay lower feed prices. Also, industrial processing of soybean oil would become competitive. Hence, soybean research should pursue yield increases by allowing protein reductions.

Keywords: benefits; market effect; quality; soybeans; technlogy; yield; O330; Q160

Journal Article.  0 words. 

Subjects: Technological Change; Research and Development ; Agricultural Economics

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