| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
CONTRACT MARKETING IN THE US AFTER THE 2002 FARM ACT: THE CASE OF PEANUTS
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| Autores: |
Revoredo-Giha, Cesar
Nadolnyak, Denis A.
Fletcher, Stanley M.
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| Data: |
2005-09-30
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| Ano: |
2005
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| Palavras-chave: |
US agriculture
Agricultural marketing
Peanuts
Economics of agricultural contracts.
Agricultural and Food Policy
Crop Production/Industries
Marketing
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| Resumo: |
The elimination of the marketing quota system that regulated the peanut market since the 1930s has been accompanied by the emergence of marketing contracts between farmers and peanut buyers (mainly peanut shellers). Two types of contracts have been observed, forward contracts for delivery at harvest or at a later date and option to purchase contracts. We analyze the clauses of contracts used by major shellers in order to infer the motivation behind these contracts (i.e., risk sharing, reduction of transaction costs, improve coordination, exercise of market power, etc.). The analysis points out that the main role of the contracts is to replace the marketing structure existing prior the 2002 Farm Act, where peanut marketing was quite regulated. In this sense, the reduction of transaction costs associated to the need for coordinating a continuous supply of homogeneous quality seems to be the most plausible explanation.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
17841
http://purl.umn.edu/31930
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| Editor: |
AgEcon Search
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| Relação: |
University of Cambridge>Department of Land Economy>Environmental Economy and Policy Research Discussion Papers
Discussion Paper Number 11.2005
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| Formato: |
15
application/pdf
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