primary commodities, agricultural products, Crop production
This paper presents an introductory discussion o f the linkages between the price of the primary commodity and the products produced from the primary commodity. First, a case is discussed where the primary commodity is processed into an intermediate product and then into a final product. As in this case, at each successive stage of processing, the transformation results in only one product. This case is referred to as the single product case. In the second case the primary commodity is processed into two products simultaneously in a fixed proportion. This case is the joint product case.
Department of Economics, South Dakota State University
Number of Pages
Qasmi, Bashir and Schmiesing, Brian, "Linkages Between Prices of Agriculture Commodities and
Processed Final Products" (1989). Economics Staff Paper Series. 69.