Production Efficiency and Pricing Policy for Milk
An Econometric Analysis
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Despite, being the global leader in milk production, productivity and per capita availability is abysmally low in India. As technological interventions are the key player to boost production, an appropriate and feasible pricing model is indispensable to augment the productivity. The relative prices have been drastically affected due to the ignorance of factor allocation, yield levels, technology and government policies. Since dairying is being practiced as the component of mixed farming system, it is imperative to take into account of interrelationship of factor-product prices and general econ...
Despite, being the global leader in milk production, productivity and per capita availability is abysmally low in India. As technological interventions are the key player to boost production, an appropriate and feasible pricing model is indispensable to augment the productivity. The relative prices have been drastically affected due to the ignorance of factor allocation, yield levels, technology and government policies. Since dairying is being practiced as the component of mixed farming system, it is imperative to take into account of interrelationship of factor-product prices and general economic conditions to increase milk production in order to achieve food and nutritional security. The book is developed with econometric methods of price determination model, deterministic non-parametric approach and stochastic production frontier for dairy farms to fix the nominal price of milk and to identify the magnitude of technical efficiency components. The book would be the ready reckoner for farmers, policy planners, agribusiness centers, research scholars and graduate students of economics to expose the strategies to increase productivity and determination of price for milk.
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