Harvard Case - Demand Elasticities for Pulses and Public Policy Options
"Demand Elasticities for Pulses and Public Policy Options" Harvard business case study is written by Ravindra H. Dholakia. It deals with the challenges in the field of Economics. The case study is 1 page(s) long and it was first published on : Dec 26, 2016
At Fern Fort University, we recommend a multi-pronged approach to address the challenges facing the pulse market in developing countries. This strategy leverages economics, government policy and regulation, international business, and technology and analytics to promote economic growth, environmental sustainability, and food security.
2. Background
This case study examines the market for pulses in developing countries, focusing on the challenges of supply and demand, price volatility, and limited access to markets. The case highlights the role of government policy in influencing trade, infrastructure development, and farmer incomes. The main protagonists are the farmers, consumers, and governments of developing countries.
3. Analysis of the Case Study
This case study can be analyzed using the Porter Five Forces Framework to understand the competitive landscape of the pulse market:
- Threat of New Entrants: Low barriers to entry for farmers, but high capital requirements for processing and distribution.
- Bargaining Power of Buyers: High for large retailers and processors, low for individual farmers.
- Bargaining Power of Suppliers: Low for individual farmers, high for large exporters.
- Threat of Substitutes: High, as pulses can be substituted with other protein sources like rice and wheat.
- Competitive Rivalry: Intense, with many players competing for market share.
Key issues:
- Price Volatility: Fluctuations in supply and demand lead to unpredictable prices, impacting farmer incomes and consumer access.
- Limited Market Access: Lack of infrastructure and access to information limits farmers' ability to sell their produce at fair prices.
- Low Productivity: Traditional farming practices and limited access to technology result in low yields and inefficient production.
- Environmental Sustainability: Unsustainable farming practices can lead to soil degradation and water depletion.
4. Recommendations
- Promote Sustainable Agriculture Practices: Governments should incentivize the adoption of sustainable farming techniques through subsidies, training programs, and access to technology. This will improve yields, reduce environmental impact, and enhance long-term food security.
- Develop Robust Infrastructure: Investments in transportation, storage, and processing facilities are crucial to improve market access and reduce post-harvest losses. This will enhance the competitiveness of the pulse sector and benefit farmers.
- Implement Targeted Policy Interventions: Governments should implement policies to stabilize prices, promote fair trade practices, and protect farmers from market volatility. This could include price support mechanisms, crop insurance programs, and market information systems.
- Foster Public-Private Partnerships: Collaboration between governments, private sector companies, and NGOs can leverage resources and expertise to address the challenges facing the pulse market. This could include joint ventures for processing and distribution, capacity building programs for farmers, and research initiatives for improved varieties.
- Leverage Technology and Analytics: Utilizing data analytics and digital platforms can improve market transparency, connect farmers with buyers, and optimize supply chains. This will empower farmers to make informed decisions and access better markets.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Promoting sustainable agriculture and economic growth aligns with the mission of governments and development agencies.
- External Customers and Internal Clients: The recommendations benefit farmers, consumers, and the overall economy by improving food security, increasing incomes, and fostering sustainable practices.
- Competitors: The recommendations aim to enhance the competitiveness of the pulse sector in developing countries, enabling them to compete effectively in the global market.
- Attractiveness - Quantitative Measures: The recommendations are expected to generate positive returns on investment through increased productivity, reduced post-harvest losses, and improved market access.
Assumptions:
- Governments are committed to supporting the agricultural sector and promoting economic development.
- Private sector companies are willing to invest in developing countries and collaborate with governments.
- Farmers are receptive to new technologies and sustainable practices.
6. Conclusion
By implementing these recommendations, developing countries can unlock the potential of the pulse market, contributing to economic growth, food security, and environmental sustainability. This requires a collaborative effort between governments, businesses, and farmers, leveraging technology and innovation to create a more resilient and prosperous agricultural sector.
7. Discussion
Alternative Options:
- Privatization of the pulse sector: This could lead to increased efficiency and innovation, but may also result in higher prices for consumers.
- Focus on export-oriented production: This could generate foreign exchange earnings but may neglect domestic food security needs.
Risks:
- Political instability: Political instability can disrupt agricultural production and market access.
- Climate change: Climate change can negatively impact crop yields and increase price volatility.
- Lack of funding: Insufficient funding can hinder the implementation of recommended interventions.
Key Assumptions:
- Governments will prioritize long-term sustainability over short-term gains.
- Private sector companies will be willing to invest in developing countries.
- Farmers will adopt new technologies and practices.
8. Next Steps
- Develop a national pulse strategy: This should outline specific goals, targets, and action plans for the pulse sector.
- Establish a multi-stakeholder platform: This platform should facilitate collaboration between governments, businesses, and farmers.
- Pilot test innovative technologies and practices: This will allow for evaluation and refinement before widespread adoption.
- Monitor progress and adjust interventions: Regular monitoring and evaluation are crucial to ensure the effectiveness of the strategy.
By taking these steps, developing countries can create a thriving pulse sector that benefits farmers, consumers, and the environment.
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Case Description
The case illustrates application of the concepts of demand elasticities of an agricultural product with high protein contents - pulses. It considers the current situation where good monsoon has raised hopes for the bumper crop of pulses in India. From a deficit of about 20% met by imports the county now is looking for attaining self-sufficiency. Public Policy option in this regard are also considered.
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