| Popis: |
The paper presents a model of the world fish meal market. The main use of fish meal is in the production of mixed feeds. The behavior of the mixed feed producers, who are assumed to produce mixed feeds at minimum cost, is simulated. For each type of mixed feed a linear programming model is specified. The objective is to minimize costs subject to a number of constraints, reflecting the nutritional specifications for the specific compound. By varying the price of fish meal, a demand schedule is generated. By aggregating over different types of mixed feed and different markets, an aggregate demand schedule is derived. The market price is then determined by equality of demand and supply. A numerical example illustrates the application of the model. |
