The concept of cost of production in Australian agricultural policy with specific application to the wheat industry

Abstract

One feature of Australian agricultural policy in the post World War II era has been the introduction of cost-based price stabilization schemes for certain of our rural industries. Currently there are four such stabilization schemes under which the price of the industry’s product is related to costs of production. The products involved are wheat, butterfat (for butter and cheese production), sugar and dried vine fruits. Show more