A State Trading Enterprise for Grains in Russia? Issues and Options
The impact of state trading enterprises (STEs) on domestic and international grain markets has been studied extensively over the years, generating a considerable body of theoretical and empirical evidence. The aim of this note is to draw on this bo...
| Main Author: | |
|---|---|
| Format: | Policy Note |
| Language: | English en_US |
| Published: |
Washington, DC
2014
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2009/10/11742343/state-trading-enterprise-grains-russia-issues-options http://hdl.handle.net/10986/18899 |
| id |
okr-10986-18899 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AGENCY PROBLEMS AGRICULTURAL EXPORTS AGRICULTURE ANIMAL FEED ARBITRAGE ASSET VALUE ASSETS AVERAGE COSTS AVERAGE PRICE BARLEY BUDGETARY SUPPORT CARTEL CEREAL PRICES CEREALS CIVIL CODE CLIMATIC CONDITIONS COARSE GRAINS COLLUSION COMMODITIES COMMODITY COMPETITION POLICY COMPETITIVENESS CONSUMER PRICES CONSUMERS CONTESTABLE MARKET COOPERATIVES CORN COST STRUCTURES CREDIT RATING CROP CROPS CURRENCY CUSTOMER SERVICE DEMAND CURVE DIVERSIFIED MARKET DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICES DURUM WHEAT ECONOMIC COOPERATION ECONOMIC PERFORMANCE ECONOMIES OF SCALE EQUAL SHARES EXCESS SUPPLY EXCHANGE RATE EXCLUSIVE RIGHTS EXCLUSIVE RIGHTS TO SELL EXPORT CREDIT EXPORT CREDITS EXPORT GROWTH EXPORT MARKETING EXPORT MARKETS EXPORTS FAO FARM FARMER FARMERS FARMS FEDERAL AGENCY FERTILIZER FIXED COSTS FLOUR FOOD PRICE FOOD PRICES FOOD SAFETY FOOD SECURITY FORECASTS FOREIGN COMPANIES FOREIGN FIRMS FOREIGN MARKETS FREE TRADE FREE TRADE AGREEMENT FUTURE GROWTH FUTURES GLOBAL MARKET GLOBAL MARKETS GRAIN GRAIN HANDLING GRAIN INDUSTRY GRAIN PRICES GRAIN PRODUCTION GRAIN QUALITY GRAIN STORAGE GRAIN TRADE GRAIN TRANSPORTATION GRAIN YIELDS GRAINS HARVESTS INCOME INDIVIDUAL FIRMS INFLATION INNOVATION INPUT PRICES INSURANCE INTERNATIONAL COMPETITIVENESS INTERNATIONAL MARKETS MALT MARGINAL COST MARGINAL COSTS MARGINAL REVENUE MARKET ACCESS MARKET ANALYSIS MARKET CONDITIONS MARKET DEVELOPMENT MARKET DISTORTIONS MARKET LIBERALIZATION MARKET PARTICIPANT MARKET POWER MARKET PRICE MARKET PRICES MARKET REGULATION MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKET STRUCTURES MARKETING MARKETING BOARDS MEAT MONOPOLIES MONOPOLY MONOPOLY PRICES MONOPOLY RENTS NICHE MARKETS OATS OLIGOPOLY OUTPUT OWNERSHIP STRUCTURE PERFECT COMPETITION POPULATION GROWTH POULTRY PREMIUM PRICES PRICE CONTROLS PRICE DISCRIMINATION PRICE FLUCTUATIONS PRICE INCREASE PRICE INCREASES PRICE INFLATION PRICE PREMIUM PRICE SPREADS PRICE STABILIZATION PRICE SUPPORT PRIVATE INVESTORS PRIVATIZATION PRODUCE PRODUCER INCENTIVES PRODUCER PRICE PRODUCTION COSTS PRODUCTIVITY INCREASES PROFIT MAXIMIZATION PROFIT MAXIMIZING PROPERTY RIGHTS PUBLIC GOOD PURCHASING PURE PROFIT RENT SEEKING RENT SEEKING BEHAVIOR REPUTATION RISK MANAGEMENT RISK REDUCTION SALE SALES SAVINGS SCANDAL SECURITY INTERESTS SEEDS SHAREHOLDERS SOFT BUDGET CONSTRAINTS STATE ENTERPRISE STOCKS SUBSTITUTION SUPPLIER SUPPLIERS SUPPLY CHAIN SUPPLY CURVE SURPLUS SURPLUSES SUSTAINABLE DEVELOPMENT TAX TAXATION TRADE NEGOTIATIONS TRADING SYSTEM VOLATILITY WHEAT WHEAT INDUSTRY WHEAT PRICES WHEAT TRADE WHEAT VARIETIES WORLD MARKET WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO |
| spellingShingle |
AGENCY PROBLEMS AGRICULTURAL EXPORTS AGRICULTURE ANIMAL FEED ARBITRAGE ASSET VALUE ASSETS AVERAGE COSTS AVERAGE PRICE BARLEY BUDGETARY SUPPORT CARTEL CEREAL PRICES CEREALS CIVIL CODE CLIMATIC CONDITIONS COARSE GRAINS COLLUSION COMMODITIES COMMODITY COMPETITION POLICY COMPETITIVENESS CONSUMER PRICES CONSUMERS CONTESTABLE MARKET COOPERATIVES CORN COST STRUCTURES CREDIT RATING CROP CROPS CURRENCY CUSTOMER SERVICE DEMAND CURVE DIVERSIFIED MARKET DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICES DURUM WHEAT ECONOMIC COOPERATION ECONOMIC PERFORMANCE ECONOMIES OF SCALE EQUAL SHARES EXCESS SUPPLY EXCHANGE RATE EXCLUSIVE RIGHTS EXCLUSIVE RIGHTS TO SELL EXPORT CREDIT EXPORT CREDITS EXPORT GROWTH EXPORT MARKETING EXPORT MARKETS EXPORTS FAO FARM FARMER FARMERS FARMS FEDERAL AGENCY FERTILIZER FIXED COSTS FLOUR FOOD PRICE FOOD PRICES FOOD SAFETY FOOD SECURITY FORECASTS FOREIGN COMPANIES FOREIGN FIRMS FOREIGN MARKETS FREE TRADE FREE TRADE AGREEMENT FUTURE GROWTH FUTURES GLOBAL MARKET GLOBAL MARKETS GRAIN GRAIN HANDLING GRAIN INDUSTRY GRAIN PRICES GRAIN PRODUCTION GRAIN QUALITY GRAIN STORAGE GRAIN TRADE GRAIN TRANSPORTATION GRAIN YIELDS GRAINS HARVESTS INCOME INDIVIDUAL FIRMS INFLATION INNOVATION INPUT PRICES INSURANCE INTERNATIONAL COMPETITIVENESS INTERNATIONAL MARKETS MALT MARGINAL COST MARGINAL COSTS MARGINAL REVENUE MARKET ACCESS MARKET ANALYSIS MARKET CONDITIONS MARKET DEVELOPMENT MARKET DISTORTIONS MARKET LIBERALIZATION MARKET PARTICIPANT MARKET POWER MARKET PRICE MARKET PRICES MARKET REGULATION MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKET STRUCTURES MARKETING MARKETING BOARDS MEAT MONOPOLIES MONOPOLY MONOPOLY PRICES MONOPOLY RENTS NICHE MARKETS OATS OLIGOPOLY OUTPUT OWNERSHIP STRUCTURE PERFECT COMPETITION POPULATION GROWTH POULTRY PREMIUM PRICES PRICE CONTROLS PRICE DISCRIMINATION PRICE FLUCTUATIONS PRICE INCREASE PRICE INCREASES PRICE INFLATION PRICE PREMIUM PRICE SPREADS PRICE STABILIZATION PRICE SUPPORT PRIVATE INVESTORS PRIVATIZATION PRODUCE PRODUCER INCENTIVES PRODUCER PRICE PRODUCTION COSTS PRODUCTIVITY INCREASES PROFIT MAXIMIZATION PROFIT MAXIMIZING PROPERTY RIGHTS PUBLIC GOOD PURCHASING PURE PROFIT RENT SEEKING RENT SEEKING BEHAVIOR REPUTATION RISK MANAGEMENT RISK REDUCTION SALE SALES SAVINGS SCANDAL SECURITY INTERESTS SEEDS SHAREHOLDERS SOFT BUDGET CONSTRAINTS STATE ENTERPRISE STOCKS SUBSTITUTION SUPPLIER SUPPLIERS SUPPLY CHAIN SUPPLY CURVE SURPLUS SURPLUSES SUSTAINABLE DEVELOPMENT TAX TAXATION TRADE NEGOTIATIONS TRADING SYSTEM VOLATILITY WHEAT WHEAT INDUSTRY WHEAT PRICES WHEAT TRADE WHEAT VARIETIES WORLD MARKET WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO World Bank A State Trading Enterprise for Grains in Russia? Issues and Options |
| geographic_facet |
Europe and Central Asia Russian Federation |
| description |
The impact of state trading enterprises
(STEs) on domestic and international grain markets has been
studied extensively over the years, generating a
considerable body of theoretical and empirical evidence. The
aim of this note is to draw on this body of evidence to
analyze possible options for Russia's future state
involvement in grain trade. The note covers the following
three parts: i) outline of the potential economic impacts of
STEs in grain trade from an economic perspective; ii) review
of some of the global experience with STEs that are involved
in grain exports; and iii) evaluation of options for state
involvement in grain trade in Russia. The coverage in this
note is limited to grains and to the impacts of STEs in
countries that are net exporters of grain. Of the major
grains, the note focuses on wheat which is by far the most
important Russian export grain. Importing STEs are much more
numerous than exporting STEs worldwide. However, unlike
Ukraine, which has jumped between net export and net import
situations for wheat as recently as 2003/04, it appears that
Russia has become a consistent exporter since the beginning
of this decade, even in years with relatively poor crop
conditions. The note is further limited to the analysis of
STEs and not grain market regulation in general (i.e. market
and price support, income support for grain producers).
However, as is discussed, such regulation can be used to
help an STE pursue certain objectives by enhancing its
market power, and STEs are generally implemented as part of
an overall grain market regulation strategy. |
| format |
Economic & Sector Work :: Policy Note |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
A State Trading Enterprise for Grains in Russia? Issues and Options |
| title_short |
A State Trading Enterprise for Grains in Russia? Issues and Options |
| title_full |
A State Trading Enterprise for Grains in Russia? Issues and Options |
| title_fullStr |
A State Trading Enterprise for Grains in Russia? Issues and Options |
| title_full_unstemmed |
A State Trading Enterprise for Grains in Russia? Issues and Options |
| title_sort |
state trading enterprise for grains in russia? issues and options |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2009/10/11742343/state-trading-enterprise-grains-russia-issues-options http://hdl.handle.net/10986/18899 |
| _version_ |
1764440988451864576 |
| spelling |
okr-10986-188992021-04-23T14:03:45Z A State Trading Enterprise for Grains in Russia? Issues and Options World Bank AGENCY PROBLEMS AGRICULTURAL EXPORTS AGRICULTURE ANIMAL FEED ARBITRAGE ASSET VALUE ASSETS AVERAGE COSTS AVERAGE PRICE BARLEY BUDGETARY SUPPORT CARTEL CEREAL PRICES CEREALS CIVIL CODE CLIMATIC CONDITIONS COARSE GRAINS COLLUSION COMMODITIES COMMODITY COMPETITION POLICY COMPETITIVENESS CONSUMER PRICES CONSUMERS CONTESTABLE MARKET COOPERATIVES CORN COST STRUCTURES CREDIT RATING CROP CROPS CURRENCY CUSTOMER SERVICE DEMAND CURVE DIVERSIFIED MARKET DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICES DURUM WHEAT ECONOMIC COOPERATION ECONOMIC PERFORMANCE ECONOMIES OF SCALE EQUAL SHARES EXCESS SUPPLY EXCHANGE RATE EXCLUSIVE RIGHTS EXCLUSIVE RIGHTS TO SELL EXPORT CREDIT EXPORT CREDITS EXPORT GROWTH EXPORT MARKETING EXPORT MARKETS EXPORTS FAO FARM FARMER FARMERS FARMS FEDERAL AGENCY FERTILIZER FIXED COSTS FLOUR FOOD PRICE FOOD PRICES FOOD SAFETY FOOD SECURITY FORECASTS FOREIGN COMPANIES FOREIGN FIRMS FOREIGN MARKETS FREE TRADE FREE TRADE AGREEMENT FUTURE GROWTH FUTURES GLOBAL MARKET GLOBAL MARKETS GRAIN GRAIN HANDLING GRAIN INDUSTRY GRAIN PRICES GRAIN PRODUCTION GRAIN QUALITY GRAIN STORAGE GRAIN TRADE GRAIN TRANSPORTATION GRAIN YIELDS GRAINS HARVESTS INCOME INDIVIDUAL FIRMS INFLATION INNOVATION INPUT PRICES INSURANCE INTERNATIONAL COMPETITIVENESS INTERNATIONAL MARKETS MALT MARGINAL COST MARGINAL COSTS MARGINAL REVENUE MARKET ACCESS MARKET ANALYSIS MARKET CONDITIONS MARKET DEVELOPMENT MARKET DISTORTIONS MARKET LIBERALIZATION MARKET PARTICIPANT MARKET POWER MARKET PRICE MARKET PRICES MARKET REGULATION MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKET STRUCTURES MARKETING MARKETING BOARDS MEAT MONOPOLIES MONOPOLY MONOPOLY PRICES MONOPOLY RENTS NICHE MARKETS OATS OLIGOPOLY OUTPUT OWNERSHIP STRUCTURE PERFECT COMPETITION POPULATION GROWTH POULTRY PREMIUM PRICES PRICE CONTROLS PRICE DISCRIMINATION PRICE FLUCTUATIONS PRICE INCREASE PRICE INCREASES PRICE INFLATION PRICE PREMIUM PRICE SPREADS PRICE STABILIZATION PRICE SUPPORT PRIVATE INVESTORS PRIVATIZATION PRODUCE PRODUCER INCENTIVES PRODUCER PRICE PRODUCTION COSTS PRODUCTIVITY INCREASES PROFIT MAXIMIZATION PROFIT MAXIMIZING PROPERTY RIGHTS PUBLIC GOOD PURCHASING PURE PROFIT RENT SEEKING RENT SEEKING BEHAVIOR REPUTATION RISK MANAGEMENT RISK REDUCTION SALE SALES SAVINGS SCANDAL SECURITY INTERESTS SEEDS SHAREHOLDERS SOFT BUDGET CONSTRAINTS STATE ENTERPRISE STOCKS SUBSTITUTION SUPPLIER SUPPLIERS SUPPLY CHAIN SUPPLY CURVE SURPLUS SURPLUSES SUSTAINABLE DEVELOPMENT TAX TAXATION TRADE NEGOTIATIONS TRADING SYSTEM VOLATILITY WHEAT WHEAT INDUSTRY WHEAT PRICES WHEAT TRADE WHEAT VARIETIES WORLD MARKET WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO The impact of state trading enterprises (STEs) on domestic and international grain markets has been studied extensively over the years, generating a considerable body of theoretical and empirical evidence. The aim of this note is to draw on this body of evidence to analyze possible options for Russia's future state involvement in grain trade. The note covers the following three parts: i) outline of the potential economic impacts of STEs in grain trade from an economic perspective; ii) review of some of the global experience with STEs that are involved in grain exports; and iii) evaluation of options for state involvement in grain trade in Russia. The coverage in this note is limited to grains and to the impacts of STEs in countries that are net exporters of grain. Of the major grains, the note focuses on wheat which is by far the most important Russian export grain. Importing STEs are much more numerous than exporting STEs worldwide. However, unlike Ukraine, which has jumped between net export and net import situations for wheat as recently as 2003/04, it appears that Russia has become a consistent exporter since the beginning of this decade, even in years with relatively poor crop conditions. The note is further limited to the analysis of STEs and not grain market regulation in general (i.e. market and price support, income support for grain producers). However, as is discussed, such regulation can be used to help an STE pursue certain objectives by enhancing its market power, and STEs are generally implemented as part of an overall grain market regulation strategy. 2014-07-17T23:08:08Z 2014-07-17T23:08:08Z 2009-10 http://documents.worldbank.org/curated/en/2009/10/11742343/state-trading-enterprise-grains-russia-issues-options http://hdl.handle.net/10986/18899 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work Europe and Central Asia Russian Federation |