A managerial economist's forecast for meat consumption in Malaysia: Implications to farmers and investors

Tey, (John) Yeong-Sheng (2009): A managerial economist's forecast for meat consumption in Malaysia: Implications to farmers and investors.

Abstract

In this consumer driven chain, the changes in meat consumption at consumer level indeed provide implication for upstream production. While econometrics based analysis and forecast are hard to be understood and digested by farmers or investors, a simple forecast from the perspectives of managerial economics as laid down in the objective of this study perhaps provide valuable insights on the future movement of meat consumption and demand. By using simple forecasting technique using mathematical model, farmers and investors can expect that poultry is to be continuing its vital role as the main source for meat in the country. This is to be coupled with increasing consumption in beef and mutton. However, it is likely the decreasing trend in pork is to be continued. Alternative pig farming system is identically the main concern in promising consumers food safety, freedom of disease, and a way of reclaiming the joy of eating by growing pig that is environmentally sustainable and socially responsible. The challenge is certain, extra efforts must be contributed to reduce the cost of supply chain amid of the increasing retail price of pork that drives consumers away to seek for cheaper substitution.

• Item Type: MPRA Paper
• Language: English
• Keywords: Meat, consumption, managerial economics
• Subjects: Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q11 - Aggregate Supply and Demand Analysis ; Prices; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q13 - Agricultural Markets and Marketing ; Cooperatives ; Agribusiness

References

Agriculture Statistical Handbook – various issues (1960-2008), Ministry of Agriculture and Agro-based Industry, Malaysia.

Baharumshah, A.Z. and Mohamed, Z.A. (1993), ‘Demand for Meat in Malaysia: An Application of the Almost Ideal Demand System Analysis’, Pertanika Social Science and & Humanities, 1 (1): 91 – 95.

Hussein, M.A., Mohayidin, M.G. and Shariff, S.K. (1986), Food Consumption in Malaysia – Present Levels and Future Prospects for Self-Sufficiency. PKDP Report, 5/86.