The Changing Structure of Global Food Markets: Dimensions, Effects, and Policy Implications
15 Pages Posted: 20 Nov 2010
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The Changing Structure of Global Food Markets: Dimensions, Effects, and Policy Implications
Date Written: February 6, 2003
Abstract
In this paper I discuss trends in ownership concentration in three principal stages of the food system: food retailing, food manufacturing, and selected inputs purchased by agricultural producers and by food processors. In each of these levels, the available information from North America, Western Europe, or global sources shows that sales concentration is increasing. Sales concentration is linked to substantial consumer welfare losses for consumers, but there is also evidence of small efficiency gains. I assess the complex phenomenon of vertical market power in food subsectors by focusing in the issues of captive supplies and channel captaincy. Finally, I assess the current role played by public policies in ameliorating consumer and producer welfare as it is affected by the exercise of market power. In general, I view competition laws that apply to horizontal conduct as more settled and more easily enforced than are public policies directed at vertical strategic conduct.
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