A State Trading Enterprise for Grains in Russia? Issues and Options
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Washington, DC
Resumen
Descripción
The impact of state trading enterprises
(STEs) on domestic and international grain markets has been
studied extensively over the years, generating a
considerable body of theoretical and empirical evidence. The
aim of this note is to draw on this body of evidence to
analyze possible options for Russia's future state
involvement in grain trade. The note covers the following
three parts: i) outline of the potential economic impacts of
STEs in grain trade from an economic perspective; ii) review
of some of the global experience with STEs that are involved
in grain exports; and iii) evaluation of options for state
involvement in grain trade in Russia. The coverage in this
note is limited to grains and to the impacts of STEs in
countries that are net exporters of grain. Of the major
grains, the note focuses on wheat which is by far the most
important Russian export grain. Importing STEs are much more
numerous than exporting STEs worldwide. However, unlike
Ukraine, which has jumped between net export and net import
situations for wheat as recently as 2003/04, it appears that
Russia has become a consistent exporter since the beginning
of this decade, even in years with relatively poor crop
conditions. The note is further limited to the analysis of
STEs and not grain market regulation in general (i.e. market
and price support, income support for grain producers).
However, as is discussed, such regulation can be used to
help an STE pursue certain objectives by enhancing its
market power, and STEs are generally implemented as part of
an overall grain market regulation strategy.
Palabras clave
AGENCY PROBLEMS, AGRICULTURAL EXPORTS, AGRICULTURE, ANIMAL FEED, ARBITRAGE, ASSET VALUE, ASSETS, AVERAGE COSTS, AVERAGE PRICE, BARLEY, BUDGETARY SUPPORT, CARTEL, CEREAL PRICES, CEREALS, CIVIL CODE, CLIMATIC CONDITIONS, COARSE GRAINS, COLLUSION, COMMODITIES, COMMODITY, COMPETITION POLICY, COMPETITIVENESS, CONSUMER PRICES, CONSUMERS, CONTESTABLE MARKET, COOPERATIVES, CORN, COST STRUCTURES, CREDIT RATING, CROP, CROPS, CURRENCY, CUSTOMER SERVICE, DEMAND CURVE, DIVERSIFIED MARKET, DOMESTIC MARKET, DOMESTIC MARKETS, DOMESTIC PRICES, DURUM WHEAT, ECONOMIC COOPERATION, ECONOMIC PERFORMANCE, ECONOMIES OF SCALE, EQUAL SHARES, EXCESS SUPPLY, EXCHANGE RATE, EXCLUSIVE RIGHTS, EXCLUSIVE RIGHTS TO SELL, EXPORT CREDIT, EXPORT CREDITS, EXPORT GROWTH, EXPORT MARKETING, EXPORT MARKETS, EXPORTS, FAO, FARM, FARMER, FARMERS, FARMS, FEDERAL AGENCY, FERTILIZER, FIXED COSTS, FLOUR, FOOD PRICE, FOOD PRICES, FOOD SAFETY, FOOD SECURITY, FORECASTS, FOREIGN COMPANIES, FOREIGN FIRMS, FOREIGN MARKETS, FREE TRADE, FREE TRADE AGREEMENT, FUTURE GROWTH, FUTURES, GLOBAL MARKET, GLOBAL MARKETS, GRAIN, GRAIN HANDLING, GRAIN INDUSTRY, GRAIN PRICES, GRAIN PRODUCTION, GRAIN QUALITY, GRAIN STORAGE, GRAIN TRADE, GRAIN TRANSPORTATION, GRAIN YIELDS, GRAINS, HARVESTS, INCOME, INDIVIDUAL FIRMS, INFLATION, INNOVATION, INPUT PRICES, INSURANCE, INTERNATIONAL COMPETITIVENESS, INTERNATIONAL MARKETS, MALT, MARGINAL COST, MARGINAL COSTS, MARGINAL REVENUE, MARKET ACCESS, MARKET ANALYSIS, MARKET CONDITIONS, MARKET DEVELOPMENT, MARKET DISTORTIONS, MARKET LIBERALIZATION, MARKET PARTICIPANT, MARKET POWER, MARKET PRICE, MARKET PRICES, MARKET REGULATION, MARKET SHARE, MARKET SHARES, MARKET STRUCTURE, MARKET STRUCTURES, MARKETING, MARKETING BOARDS, MEAT, MONOPOLIES, MONOPOLY, MONOPOLY PRICES, MONOPOLY RENTS, NICHE MARKETS, OATS, OLIGOPOLY, OUTPUT, OWNERSHIP STRUCTURE, PERFECT COMPETITION, POPULATION GROWTH, POULTRY, PREMIUM PRICES, PRICE CONTROLS, PRICE DISCRIMINATION, PRICE FLUCTUATIONS, PRICE INCREASE, PRICE INCREASES, PRICE INFLATION, PRICE PREMIUM, PRICE SPREADS, PRICE STABILIZATION, PRICE SUPPORT, PRIVATE INVESTORS, PRIVATIZATION, PRODUCE, PRODUCER INCENTIVES, PRODUCER PRICE, PRODUCTION COSTS, PRODUCTIVITY INCREASES, PROFIT MAXIMIZATION, PROFIT MAXIMIZING, PROPERTY RIGHTS, PUBLIC GOOD, PURCHASING, PURE PROFIT, RENT SEEKING, RENT SEEKING BEHAVIOR, REPUTATION, RISK MANAGEMENT, RISK REDUCTION, SALE, SALES, SAVINGS, SCANDAL, SECURITY INTERESTS, SEEDS, SHAREHOLDERS, SOFT BUDGET CONSTRAINTS, STATE ENTERPRISE, STOCKS, SUBSTITUTION, SUPPLIER, SUPPLIERS, SUPPLY CHAIN, SUPPLY CURVE, SURPLUS, SURPLUSES, SUSTAINABLE DEVELOPMENT, TAX, TAXATION, TRADE NEGOTIATIONS, TRADING SYSTEM, VOLATILITY, WHEAT, WHEAT INDUSTRY, WHEAT PRICES, WHEAT TRADE, WHEAT VARIETIES, WORLD MARKET, WORLD MARKETS, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO