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http://dx.doi.org/10.5762/KAIS.2021.22.4.108

Economic Impacts of the increase in Green Immature Citrus Demand on Jeju Field Citrus Industry  

Kim, Hwa-Nyeon (Department of Applied Economics & SARI, Jeju National University, Research Institute for Subtropical Agriculture and Animal Biotechnology)
Ko, Seong-Bo (Department of Applied Economics & SARI, Jeju National University, Research Institute for Subtropical Agriculture and Animal Biotechnology)
Kim, Bae-Sung (Department of Applied Economics & SARI, Jeju National University, Research Institute for Subtropical Agriculture and Animal Biotechnology)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.22, no.4, 2021 , pp. 108-114 More about this Journal
Abstract
Green colored citrus is the immature fruit of the field citrus crop in Jeju, and its demand has been growing recently as it is known to contain a large amount of carotinoid, pectin, and vitamin C. It differs from the traditional varieties of blue tangerine, which are green in February and turn in yellow in March-April. This study analyzed the effects of the increased demand in green citrus on the field citrus industry. For our analysis, a partial equilibrium supply-demand model was established with a dynamic recursive structure using data from 1989-2017. Model calibration was also conducted to determine the best supply-demand model and then, the impacts of increasing demand for green immature citrus in Jeju for 2018-2030 was simulated. The simulation results show that there is no significant impact on the producing area prior to 2022, but there is a distinguishable increase of 18ha in 2023, 52ha in 2025, and 142ha in 2030. It was also predicted that revenue would increase by KRW 7.75 billion on average from 2021-2030.
Keywords
Green Immature Citrus; Field Citrus; Supply-Demand; Partial Equilibrium Simulation Model; Jeju Province;
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