Ideas of India Rajat Kochhar on Agricultural Market Power and Farmer Adaptation to Climate Change
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Dec 14, 2023 In this episode, Rajat Kochhar, an environmental economics scholar, discusses the impact of market power in local agricultural markets on farmer adaptation to climate change. They explore distortionary policies, regulations, crop choice, water audits, and the agricultural produce market system in India and the UK.
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Market Structure Enables Adaptation
- Market structure significantly impacts farmers’ ability to cope with climate shocks in India.
- Farmers in more competitive agricultural markets can maintain nearly 5% higher output per day of extreme heat.
Measuring Market Competition
- Competition in agricultural markets depends on number, distance, and size of APMC markets nearby.
- Larger and closer markets increase farmer options and competition intensity for selling produce.
Defining Weather Shocks
- Negative weather shocks are defined as temperatures above 35°C during crop growth periods.
- Such heat stress is measured using spatially granular temperature data matched to crop cycles.