Parmalat

This Discussion Paper describes developments affecting Parmalat of Italy, once one of the world's leading dairy-food firms, which filed for bankruptcy protection in December 2003. After the bankruptcy, it was discovered that fraud on a massive scale had occurred at Parmalat, putting the firm in the infamous category occupied by Enron, Tyco International, and WorldCom. This paper analyzes the origins, growth, strategies, downfall, and restructuring of Parmalat, and identifies implications for the U.S. and world dairy industries and international businesses that flow from the firm's experiences.Parmalat, Fraud, Bankruptcy, Distribution Channels, Brand Proliferation, Fragmented Industries, Debt Aquisition, Agricultural Finance, Demand and Price Analysis, Financial Economics, Industrial Organization, Marketing, Risk and Uncertainty,

Structural Change in the U.S. Dairy Industry: Growth in Scale, Regional Shifts in Milk Production and Processing, and Internationalism

Structural changes in the U.S. dairy industry from the early 1980s to the late 1990s included familiar increases in concentration, industry adjustments to serve large supermarkets, the emergence of two national fluid milk firms (Suiza Foods and Dean Foods), and the emergence of two national dairy cooperatives (Dairy Farmers of America and Land O'Lakes, Inc.). Shifts in the location of milk production in the U.S. to the Western states have caused new dairy product manufacturing plants to locate in those states. This development promises to intensify battles over market share in the expanding U.S. cheese market between Western firms and Upper Midwestern firms. Foreign direct investment in the U.S. dairy industry--especially by European Union firms and a large Canadian firm--increased during the 1980s and 1990s. Facing challenges to expand dairy exports or shrink, the U.S. dairy industry probably will gravitate toward the latter unless government price support and trade policies change to increase price incentives for U.S. firms to export dairy products.

When Will U.S. Firms Become Major Dairy Exporters?

Agribusiness, International Relations/Trade, Livestock Production/Industries,

U.S. Dairy Trade Situation and Outlook: 2009

Agribusiness, International Development, International Relations/Trade,

The Future Role of the U.S. in World Dairy Markets

U.S. dairy companies became more important exporters beginning in the mid-2000s when international and domestic developments changed the economic environment facing the U.S. dairy industry. This paper looks at five U.S. dairy firms and how their domestic and international strategies will influence the size of the U.S. dairy industry's dairy exports and foreign direct investment in dairy-food businesses.U.S. Dairy Exports, International Dairy Industry, Demand and Price Analysis, International Development, International Relations/Trade,

Prospects for Uganda's Dairy Industry

The East African country of Uganda might not be thought of as the location of a viable, growing dairy industry. However, Uganda recorded a threefold increase in milk production from 1991 to 2004. While Uganda's dairy industry faces important challenges, the industry possesses advantages that can lead to further increases in milk production if additional, profitable markets can be found for Uganda's milk and dairy products. A major advantage possessed by Uganda's dairy industry is a favorable climate for milk production. Uganda's farmers also have demonstrated a willingness to accept new technologies that can increase milk production. The biggest challenges facing the industry are those associated with poor milk quality and pronounced seasonality of milk production.Uganda Dairy Industry, Uganda's Political and Economic Environment, Pasture-Based Dairy Industry, Poor Milk Quality, Agribusiness, Crop Production/Industries, Farm Management, Food Consumption/Nutrition/Food Safety, Industrial Organization, International Development, International Relations/Trade, Land Economics/Use, Political Economy, Public Economics,

Milk Contamination Problems in China - Implications for International Dairy Businesses

Agribusiness, Food Consumption/Nutrition/Food Safety, International Development, International Relations/Trade, Livestock Production/Industries,

When Will U.S. Firms Become Major Dairy Exporters and Bigger Direct Investors in Foreign Dairy-Food Businesses?

The prospects for substantially expanded dairy exports by U.S. firms are not bright for at least the current decade. The exceptions relate to exports of dried whey, whey fractions, dairy blends, selected specialty dairy products and nonfat dry milk. U.S. dairy exports are likely to continue to be low because U.S. prices for bulk dairy products are sharply higher than world prices. Unlike the situation for dairy exporting, the barriers to foreign direct investment by U.S. firms appear less daunting. The prevalence of successful foreign direct investments by the foreign firms described here suggests that a larger number of U.S. firms could engage in such investments successfully.U.S. Dairy Exports, Foreign Direct Investment, U.S. Dairy Firms, Demand and Price Analysis, Industrial Organization, International Relations/Trade,

Why Most Small and Mid-Sized Agribusinesses and Cooperatives Don't Export - Implications for the U.S. Dairy Industry

Agribusiness, Livestock Production/Industries,

Analysis of curtailment at The Geysers geothermal Field, California

Geothermal energy has traditionally been viewed as a baseload energy source, but the rapid growth of intermittent renewable energy has led to a need for more flexibility in power generation to avoid mandatory curtailment imposed by grid operators. This study of curtailment at The Geysers provides insights into the magnitude, duration, frequency, temporal and spatial distribution, and potential causes of curtailment events between 2013 and 2018. Annual levels of curtailment range during this period from 9 to 47 GW h, representing 0.15 to 0.81 % of the net generation. Most curtailments occurred at the power plants connected to a lower capacity transmission line and may result from transmission constriction. There is a clear link between negative pricing and economic curtailment, especially when solar production is higher. Economic curtailment events tend to be only a few hours and vary in magnitude up to almost 300 MW, whereas transmission-related curtailment events can be up to several weeks in duration. It is likely that curtailment of geothermal power will be an increasing concern, and could be mitigated by flexible generation strategies and increases in energy storage. It is critical to know the nature of curtailment events so that flexible generation options can be assessed properly