Factors Affecting Supply of Feedstuff Crops in Thailand: A Case Study of Maize and Soybean Factors Affecting Supply of Feedstuff Crops in Thailand: A Case Study of Maize and Soybean

Abstract

This research aims to study the factors influencing the supply of the important feedstuff crops in Thailand which are maize and soybean, and to give the suggestions of the research policy on the issue. The research tools were the documents about the feedstuff crops from the annual time series issued from 1957 to 2018. The statistic using in the study was a multiple regression analysis. The results showed that the factors influencing the supply of maize included the maize and soybean prices at a farm-gate level from the former year, maize planting areas, swine productions, and broiler productions. Each factor had the supply elasticity equally to (0.406) (-0.288) (0.971) (0.163) and (0.391), respectively. The factors influencing the supply of soybean included soybean price at a farm-gate level from the previous year, maize and soybean planting areas and swine productions. Each factor had the supply elasticity equally to (0.209) (-0.096) (1.024) and (0.293), respectively. The findings indicated the expansion of Thailand’s livestock industry resulting in the increases of the use of feedstuff crops such as maize and soybean in the industry. Therefore, the government and related stakeholders should supply the sufficient feedstuff crops in the country, to meet the demands for livestock productions and other purposes.