2024, Volume 27, Paper 8
ISSN: 2209-6612

A Further Update of an Equilibrium Displacement Model of the Australian Pig Meat Industry

Chinthani Rathnayakea  – School of Agriculture, Food and Ecosystem Sciences, University of Melbourne, Parkville.

Stuart Mounter – Centre for Agribusiness, UNE Business School, University of New England, Armidale.

Garry Griffith – School of Agriculture, Food and Ecosystem Sciences, University of Melbourne, Parkville; Centre for Agribusiness, UNE Business School, University of New England, Armidale.

Abstract

In this paper, a further update of an equilibrium displacement model of the Australian pig meat industry is reported. New price and quantity data for the period 2017-2022 are described and added, and compared to values used in three previous versions of the model. Elasticity parameters are modified to take account of these new data. Then two hypothetical simulations are run, one for a farm productivity improvement and one for a consumer demand expansion, and the results of these are compared to identical simulations previously reported for the earlier versions of the model. 

Key words: pig meat, EDM, update, elasticities, simulation

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