Cooking oil is known as an essential commodity in Indonesia. Having such an important role, the Indonesian government often interfered the cooking oil market to assure its price remain low. To do so, the government uses a subsidy policy as one of its instruments. A dynamic duopoly model is...

The apparent increase in market concentration and vertical integration in the Indonesiancrude palm oil (CPO) industry has led to concerns about the presence of market power.For the Indonesian CPO industry, such concerns attract more attention because of theimportance of this sector to the...

This article tests the efficiency of the hog options market and assesses the impact of the 1996 contract redesign on efficiency. We find that the hog options market is efficient, but some options yielded excess returns during the live hogs period but not during the lean hogs period. Our findings...

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...

Commercial rice imports have accounted for approximately 61%, food aid in rice accounted for about 2%, and domestic rice accounted for some 37% per annum of rice consumption in Ghana over the four years between 2000 and 2003. Compared to the 1990s, these figures show a gradual decline in the...

The commodity bull cycle of 2006-2008 and subsequent dramatic price decline have been asource of hardship for traditional commodity market participants such as producers andmerchant/shippers. The usefulness of futures markets has been called into question, especiallygiven that some market...

Futures prices when combined with a basis forecast provide a reliable way to forecast cashprices. The most popular method of forecasting basis is historical moving averages. Given therecent failure of longer moving averages proposed by previous studies, this research reassessespast...

Includes cover page, journal info, contents page, and editorial information