BS in Agricultural Business
Jay E. Noel
Rice is one of the most distorted commodities in the world. The United States and Japan both hold rice sector policies that significantly protect their industries and distort trade. This study identifies major rice sector policies in the U.S. and Japan, and demonstrates their probable economic consequences in terms of social welfare. U.S. producers are major beneficiaries and Japanese consumers are at a major welfare loss. This study demonstrates the use of economic analysis as a tool in policy formulation. Change to these policies is not likely, unless drastic social/economic changes were to happen.