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Effects of Increasing Panama Canal Toll Rates on U.S. Grain Exports

Published online by Cambridge University Press:  05 September 2016

Stephen Fuller ,
Larry Makus  and
William Gallimore
Stephen Fuller
Affiliation:
Department of Agricultural Economics, Texas A & M University
Larry Makus
Affiliation:
Department of Agricultural Economics, Texas A & M University Department of Agricultural Economics atOklahoma State University
William Gallimore
Affiliation:
Economics Research Service, U.S. Department of Agriculture
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Abstract

Some believe Panama Canal toll rates will increase dramatically as Panama's sovereignty over the Canal becomes complete at the end of this century. This paper focuses on the ability of Panama Canal management to extract additional toll revenues from United States grain traversing the Canal and the impact of increased toll rates on export grain flows. Analyses show toll rates established by a revenue-maximizing Canal management would exceed historical and current rates. A monopolizing Canal operator would have moderately increased Pacific port exports in the mid-1970's; whereas, in the 1979-82 period, Pacific port flows would have exceeded historical level.

Keywords

grain exportsPanama Canaltoll rates
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 16 , Issue 2 , December 1984 , pp. 9 - 20
Copyright
Copyright © Southern Agricultural Economics Association 1984

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