The benefits and costs of transporting an identity preserved product from Iowa to Taiwan

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1998
Authors
Yu, Tun-Hsiang
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C. Phillip Baumel
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Economics

The Department of Economic Science was founded in 1898 to teach economic theory as a truth of industrial life, and was very much concerned with applying economics to business and industry, particularly agriculture. Between 1910 and 1967 it showed the growing influence of other social studies, such as sociology, history, and political science. Today it encompasses the majors of Agricultural Business (preparing for agricultural finance and management), Business Economics, and Economics (for advanced studies in business or economics or for careers in financing, management, insurance, etc).

History
The Department of Economic Science was founded in 1898 under the Division of Industrial Science (later College of Liberal Arts and Sciences); it became co-directed by the Division of Agriculture in 1919. In 1910 it became the Department of Economics and Political Science. In 1913 it became the Department of Applied Economics and Social Science; in 1924 it became the Department of Economics, History, and Sociology; in 1931 it became the Department of Economics and Sociology. In 1967 it became the Department of Economics, and in 2007 it became co-directed by the Colleges of Agriculture and Life Sciences, Liberal Arts and Sciences, and Business.

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1898–present

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  • Department of Economic Science (1898–1910)
  • Department of Economics and Political Science (1910-1913)
  • Department of Applied Economics and Social Science (1913–1924)
  • Department of Economics, History and Sociology (1924–1931)
  • Department of Economics and Sociology (1931–1967)

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Abstract

High oil corn (HOC) is a genetically improved corn variety that has recently gained importance as an animal feed ingredient in the U.S. This study evaluates the economics of exporting HOC from the U.S. to Taiwan. It focuses attention on two types of HOC: HOC[Subscript a] and HOC[Subscript b]. A linear programming model was used to obtain the potential added value of the two types of HOC. The additional cost of exporting HOC includes additional production, identity preservation and seed costs to U.S. grain suppliers. These costs were obtained from data released by U.S. firms which develop and distribute HOC. The decision-making rule for a grower in Taiwan is based on the difference between the potential added value and the premium he has to pay. The feed targets are broilers and swine. The prices of feed ingredients, the nutritional requirements of the animals and the stevedoring and cargo handling data were gathered from The Taiwan Livestock Research Institute and Taiwan Provincial Department of Agriculture and Forestry.;The results indicate that the potential added values of both types of HOC are significantly higher when added to the diets of broilers and swine weighing 6-10 kilograms than when used in the feed of swine weighing 11-100 kilograms. The findings of the paper also indicate that at prices of 50.7 cents per bushel importing HOC[Subscript a] is non-profitable for the Taiwanese livestock grower. This study takes a look at some of the non-measurable benefits of importing HOC[Subscript a] such as its ability to alleviate problems of heat stress and nutritionally inconsistent diets to explain why Taiwan does in fact import HOC[Subscript a]. The study concludes that the benefits of importing HOC are realized only in certain circumstances that include the quality of the differentiated grain, the animal for which HOC is intended to be used and the premium charged to the importers.

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Thu Jan 01 00:00:00 UTC 1998