Abstract
AbstractDemand for lauric oil (coconut and palm kernel) is derived from demand for final products, principally soap and confectionaries. Under current conditions of relative price and use, demand for lauric oil is highly price inelastic at about −0.2; income elasticity is about 0.6. Coconut and palm kernel oil used in the United States is all imported under a basic duty of three cents per pound. Since lauric oils are no longer used in butter substitutes and offer virtually no competition to domestic vegetable oils or butter and in some uses are complementary, no protection objective is served by the duty.
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