THE SUPPLY OF WOOL IN LESOTHO

Lesotho is a very small producer of wool (1 thousand tonnes per year) and therefore has no influence on world prices and on world wool production. However, the earnings generated from wool exports contribute significantly to the economy, thus making wool an important product. This paper determines the factors that producers consider in their decisions to produce wool. An econometric supply model is developed which hypothesizes the variables that affect wool production. Lagged wool and mohair prices and rainfall are important variables that influence farmers' decisions to produce wool. The previous years' wool production is less important because of the biological lag associated with production. Other variables such as the marketing arrangements of wool and domestic policies might influence farmers' decisions to produce wool but were not considered in detail.


Other Titles:
DIE AANBOD VAN WOL IN LESOTHO
Issue Date:
1996-03
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/267861
ISSN:
0303-1853
Language:
English
Published in:
Agrekon, Volume 35, Issue 1
Page range:
20-28




 Record created 2018-02-05, last modified 2018-04-02

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