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Demand Growth for Animal Products in the BRIIC Countries
Author(s) -
Chen Danhong,
Abler David
Publication year - 2013
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/agr.21368
Subject(s) - economics , purchasing power parity , china , econlit , purchasing power , per capita , developing country , per capita income , international economics , international trade , macroeconomics , economic growth , exchange rate , population , demography , medline , sociology , political science , law
ABSTRACT We conduct a meta‐analysis of studies of consumer demand for animal products in the BRIIC countries (Brazil, Russia, India, Indonesia, and China) to gauge how future demands are likely to evolve. The BRIIC countries accounted for more than one‐fourth of global GDP in purchasing power parity terms in 2010, and are projected to have high rates of economic growth during the coming decade. Econometric results indicate that demands are likely to become more price‐responsive but less income‐responsive. These effects will likely become significant over time in countries such as China and India where per capita incomes are projected to grow rapidly. These developments may benefit exporters of animal products to the BRIIC countries if trade agreements are signed that open up the relatively closed markets for animal products in these countries. [EconLit Subject Codes: Q110, Q170].