The Changing Structure of Global Food Markets: Dimensions, Effects, and Policy Implications
13 Pages Posted: 14 Mar 2008 Last revised: 26 Apr 2015
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The Changing Structure of Global Food Markets: Dimensions, Effects, and Policy Implications
The Changing Structure of Global Food Markets: Dimensions, Effects, and Policy Implications
Date Written: 2008
Abstract
In this paper I discuss trends in ownership concentration in three principal stages of the food system: food retailing, food manufacturing, and selected inputs purchased by agricultural producers and by food processors. In each of these levels, the available information from North America, Western Europe, or global sources shows that sales concentration is increasing. I then attempt to assess the impact on performance of these concentration trends for final consumers and to a lesser extent for agricultural producers. Performance measures most of interest are the traditional ones derived from economic welfare analysis of imperfect competition. Finally, I assess the current role played by public policies in ameliorating consumer and producer welfare as it is affected by the exercise of market power.
Traditionally, economists have focused on horizontal market performance issues. That is, market performance is analyzed one level at a time. I will consider some recent findings of this type but will also venture into the more difficult arena of vertical subsector performance. Assessing vertical (distribution-channel) performance requires somewhat different tools and data sets. In general, competition laws that apply to horizontal conduct are more settled and more easily enforced than are public policies directed at vertical strategic conduct.
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