Competition in Farm Inputs: An Examination of Four Industries

摘要

The paper examines four principal agricultural input industries, which together accounted for more than $23 billion in farm expenditures in 1978. These industries produce fertilizers, pesticides, seeds and farm machinery. Because U.S. agriculture is now heavily dependent on such purchased inputs, the cost of these goods has a tremendous impact on farm prosperity and on the prices that consumers must pay for farm products. It is the author's intention to provide a basic background on the four industries, indicate areas in which impediments to vigorous competition are likely to be found, and reveal where the understanding is incomplete and where further research is needed.