Journal article

Refocussing on the value chain perspective to analyse food, beverage and fibre markets

Garry Griffith, Hamish Gow, Wendy Umberger, Euan Fleming, Bill Malcolm

Australasian Agribusiness Perspectives | University of New England | Published : 2015

Abstract

Global food, beverage and fibre markets can be characterised as networks of global value chains. Increasingly such chains are private and powerful, closely coordinated or fully vertically integrated, self-regulated, global and experience-based. The more that global agricultural and food product trade is conducted in these global value chains, the greater the concern that market efficiency may be compromised and the stronger the argument for having effective regulatory policy on hand for these markets. It is difficult to define appropriate roles for government intervention in these new environments. A priori, standard market failure justifications for public interventions are no longer as str..

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