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Please use this identifier to cite or link to this item: http://hdl.handle.net/11019/381

Title: An economic analysis of the Irish milk quota exchange scheme.
Authors: Hennessy, Thia
Lapple, Doris
Shalloo, Laurence
Wallace, Michael
Keywords: Milk quota trade
Optimisation modelling
Dairy production
Issue Date: Mar-2012
Publisher: Institute of Agricultural Management
Citation: Hennessy, Thia; Läpple, Doris; Shalloo, Laurence; Wallace, Michael. An economic analysis of the Irish milk quota exchange scheme. International Journal of Agricultural Management, Volume 1, Number 3, March 2012 , pp. 10-18(9).
Series/Report no.: International Journal of Agricultural Management;vol 1
Abstract: In Ireland, the trade of milk quota is subject to regional restrictions and a large variation in quota prices between regions has caused some controversy. This article investigates this issue by analysing the functioning of the Irish milk quota exchange market. For this purpose, the economic value of milk quota is estimated using an optimisation framework. The estimated values are then compared to milk quota prices paid at the exchange market. The analysis reveals that quota is undervalued in the border, midlands and west and south-west regions, while milk quota is overvalued in the east and south regions. This implies that farmers in certain regions overpay for additional quota, while other farmers secure good value for their quota investments. The paper concludes by discussing that the identified regional differences are only partly explained by economic and production factors.
Description: peer-reviewed
URI: http://hdl.handle.net/11019/381
http://www.ingentaconnect.com/content/iagrm/ijam/2012/00000001/00000003/art00003?token=004e1dfdb62b26842c3ab41333c4a2f7a3f6a2d384746217a5525734f6d4e2224ec06cbde49ff8
ISSN: 2047-3710
Appears in Collections:Livestock Systems
Agricultural Economics

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