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During the past decade, cotton prices remained considerably below other agricultural prices (although they recovered toward the end of 2010). Yet, between 2000-04 and 2005-09 world cotton production increased 13 percent. This paper conjectures that biotechnology-induced productivity improvements increased supplies by China and India, which, in addition to keeping cotton prices low, aided these countries to capture market share from (and cause losses to) non-users of biotechnology. By contrast, with a single exception, Africa has not adopted biotechnology and, not coincidentally, its cotton output declined by more than 20 percent between the first and second half of the past decade. The paper concludes that the development implications of biotechnology go beyond cotton and Africa. High energy prices have been an important driver of the recent commodity price boom. Therefore, investment and policy strategy responses to a cost-driven boom should be consistent with cost-saving alternatives. Biotechnology clearly meets this challenge.

Agriculture prices --- Biotech cotton --- Cotton prices --- Crops & Crop Management Systems --- E-Business --- Economic Theory & Research --- Emerging Markets --- Macroeconomics and Economic Growth --- Markets and Market Access --- Science and Technology Development

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This textbook addresses the main economic principles required by agricultural economists involved in rural development. The principles of 'micro-economics' or 'price-theory' are of relevance to economists everywhere, but this book reinforces the message of their relevance for rural development by explaining the theory in the specific context of the agricultural and food sectors of developing countries. Hypothetical and actual empirical illustrations drawn almost exclusively from such countries distinguish this book from other economic principles texts that draw their examples almost invariably from industrialised countries, and also from books more oriented to the issue of rural development. The first half of the book deals with the underlying principles of production, supply and demand. These are essential tools for the study and management of the agricultural sector and food markets. In the second half, supply and demand are bought together into a chapter of equilibrium and exchange. This is followed by chapters on trade and the theory of economic welfare. In the final chapter it is shown that much of the material in the earlier chapters can be combined by agricultural economists into a system for analysing and comparing the effects of alternative agricultural policies. The ability of agricultural economics to provide a consistent framework for the analysis of policy problems thus enables it to make a key contribution to rural development.

Agricultural prices --- Agriculture --- 338.43 <1-773> --- 338.43 <1-773> Landbouweconomie--Gebieden in ontwikkeling. Ontwikkelingslanden --- Landbouweconomie--Gebieden in ontwikkeling. Ontwikkelingslanden --- Farm prices --- Prices --- Farm income --- Economic aspects --- Third World: economic development problems --- Social Sciences and Humanities. Agricultural Economics --- Agricultural Economics (General). --- Developing countries --- Agricultural prices - Developing countries. --- Prix agricoles --- Aspect économique --- Developing countries: economic development problems --- Agriculture - Economic aspects - Developing countries. --- Life Sciences --- General and Others --- Agriculture. Economic aspects. Developing countrie --- Agriculture prices. Developing countries