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Romanian wheat prices: Is there a need for stabilisation?

Lookup NU author(s): Dr Lionel Hubbard, Dr John Lingard

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Abstract

This paper addresses the question of whether Romania should introduce a price stabilisation scheme for wheat. We examine, at the macro level, world market conditions for wheat and, at the micro level, current problems confronting Romanian farmers. Although reduction of price risk may be desirable, we conclude that it is not an urgent priority in Romania. Even a scheme which is self-financing, and therefore requiring no state funds, will use scarce management skills and expertise that would be better employed elsewhere. Elimination of market imperfections and distortions in the agri-food chain, particularly with respect to finance, grain storage and market information, will result in more immediate gains.

Publication metadata

Author(s): Hubbard LJ, Lingard J, Webster JPG

Publication type: Article

Publication status: Published

Journal: Food Policy

Year: 2000

Volume: 25

Issue: 1

Pages: 55-67

Print publication date: 15/11/1999

ISSN (print): 0306-9192

ISSN (electronic): 1873-5657

Publisher: Pergamon

URL: http://dx.doi.org/10.1016/S0306-9192(99)00064-0

DOI: 10.1016/S0306-9192(99)00064-0

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