Asymmetric Exchange Rate Pass-Through in Southeast Asian Rice Trade

Asian countries consume approximately 90% of the world’s rice supply. Between 2007 and 2014, Thailand, Vietnam, and India accounted for 60% of the world’s exports of rice. A nonlinear autoregressive distributed lag (NARDL) econometric model is utilized to estimate the impact of exchange rate fluctuations on rice trade in Southeast Asia. Focusing on the largest importing countries and exporting country by volume, the analysis considers Malaysian, Indonesian, the Philippines, and Chinese rice imports from Thailand. Results show that importing countries’ state trading enterprises (STEs) generally do not follow profit-maximizing behavior in reacting to exchange rate volatility.

Rice trade policy and productivity: empirical evidence from Nigeria’s Rice sub-sector

Low productivity, modest production and large-scale importation characterize Nigeria’s rice subsector despite government intervention through trade policy measures since independence. Studies on Nigeria’s trade policy and rice productivity are scanty in the literature. Therefore, this study investigated the effect of the country’s rice trade policy on rice productivity from 1961-2017, employing the Vector Error Correction Modeling approach. The results show that protectionist trade policy reduced rice productivity in the short run but was not significant in the long run. Producer price and domestic consumption improved rice productivity in the short run although, the latter reduced productivity in the long run. Similarly, fertilizer consumption and exchange rate reduced productivity in the short run but exchange rate increased productivity in the long run. Thus, government should focus on exchange rate, liberalized trade policy and appropriate fertilizer policy to improve Nigeria’s rice productivity.

JARINGAN PERDAGANGAN BERAS DAN DINAMIKA PELABUHAN EKSPOR DI SULAWESI SELATAN PADA 1930-AN

As the National rice barn, the Southern Sulawesi is often associated with the green revolution of the New Order Regime, especially since Indonesia succeeded the rice self-sufficency in 1984. Furthermore, Southern Sulawesi has an important role as rice supplier in Indonesia which was proven in 1930s. The state control is one of main factors supporting Southern Sulawesi’s success, along with another factor particularly environmental conditions and irrigation development. This article discusses the rice trade network and its relationship to the dynamics of export ports in Southern Sulawesi in the 1930s. By applying the historical method, this study employed primary sources, such as archives, journals, newspapers, and magazines. The findings show that the rice trade during the 1930s experienced a significant development as the state involved in the trade in 1933. The increase was seen in the trading system and the amount of exported rice. The increase which was seen in the trading system and the amount of exported rice indicates the significance of Southern Sulawesi as one of the rice barns in the Dutch East Indies. By describing the production areas, involved actors, export ports, and trade networks, this study shows the relationship between intra- and inter-regional trade.

The Bullinger Pool in Burma, 1921 to the mid-1930s

One of the most important developments in the history of the rice trade of colonial Burma was the creation of the Bullinger Pool in 1921, a combination of four large British milling and export firms based on a common price policy for the purchase and sale of paddy and rice. These firms dominated the rice trade at a time when paddy was the “true currency” of the country [Binns 1948:50]: as the source of livelihood for the majority and the form of payment for rent, loans, and wages. The collective position of the four companies—Steel Bros. and Co., Ltd., Bulloch Bros. and Co., Ltd., Ellerman’s Arracan Rice and Trading Co., Ltd., and Anglo-Burma Rice Co., Ltd.—reached such magnitude in the rice trade that by the 1930s, the conglomerate had become the subject of a legislative inquiry and the object of organized Burmese protest. The accusation against the Pool was that it manipulated prices in order to rake in huge profits, especially at the time of economic depression in the early 1930s. Even if the allegations of what one today might consider unfair trade practice were officially dismissed, as they were, the paper demonstrates that the Pool’s primary advantage, especially its access to paddy supplies, was the cornerstone of its position in the rice trade, making any measure of control plausible at the least. Since the relationship between paddy and rice prices was crucial to the industry’s pricing mechanism, the existence of a combination to set prices for both paddy and rice in the local market made the industry vulnerable to manipulation.

WATERS TOWARDS RICE TRADE FLOW IN 14TH CENTURY OF JAVA

Waters as rain, rivers, and seas are one the most common feature found upon Southeast Asian region. It has been establishing this region significantly distinctive along with others. Water is such profound thing everywhere, but it helds most importantly in Southeast Asia Maritime region, with its long shorelines in relation to it landmass, and with the enormous expanses of surrounding Island of Southeast Asia and abutting the shores of Mainland Southeast Asia. Waters in form such rain, rivers, and seas undoubtly giving a certain pattern of social and economical circumstance towards society. Java was known as the biggest rice producer until 19th century, especially manufactured among Javanese kingdoms. Rice had been the trademark of exchange in Java that was contributed across the land overtime. Here, wet rice cultivation has been a typical technique engaged in Java and remains until presents. This article discusses the water impact towards rice trade in Java during 14th century.