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April 22, 2007

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Gretchen Gordon

On the fair trade question, I'm not sure where you're getting the idea that the fairtrade farmers have added production costs. Their production doesn't have to change at all, just how much they get paid. (With organic you could argue that farmers have added costs bc they have to go through a certification process. But they also don't have to pay for pesticides, which is actually a cost savings. At any rate fair trade doesn't mean it's organic.)
It's clear that starbucks is making excess profits off their cup of joe. But another factor in your calculation should be that the difference in price for starbucks doesn't have to be significant. Fair trade coffee cuts out the middleman distributors, and in some cases roasters, who take their own profit cuts. Fairtrade farmers usually form their own co-ops so they don't get robbed by middlemen. THat can then be a significant source for the extra money paid to growers. Starbucks also probably has to kick in a few cents as well.

But you might notice that in most starbucks the fairtrade coffee is for sale in bags, but is never "on brew." You have to ask for it specifically if you want a cup. (And their policy last I heard was that they have to brew it for you) The fact that starbucks offers fairtrade coffee probably has less to do with the cost or consumer demand, and more to do with the fact that their public image was the target of a major fair trade campaign, and that cost outweighed whatever increase they have to pay for the random bag of fairtrade coffee they keep on display.
There are plenty of little coffee shops that only offer fairtrade coffee and still make a profit.

I'm sure Transfair or Equal Exchange have an economic analysis.

On a separate note, did you recently write something on south to north capital flows? I'm looking for it, but can't find it.
thanks!
Gretchen

Dani Rodrik

Thanks. The added costs come when growers have to switch to different environmental management practices, to organic farming, or fulfill any of the other requirements of "fair trade." The NYT piece that started me on this talked specifically about the environmental requirements. And I am not sure I would regard Transfair and Equal Exchange as exactly impartial on this.
On the capital flows question, check http://www.project-syndicate.org/commentary/rodrik14. The work I am using in this piece is mostly a paper by Prasad, Rajan, and Subramanian, which you can find on the IMF web page.

Luis Enrique

As more farmers become fair trade suppliers, what is that likely to do for their countries' growth prospects? Might it retard productivity growth?

I have read fair trade advocates saying higher prices induce investment by fair trade farmer, but can you hold on to fairtrade status if your farm expands production beyond a certain point?

ron cronovich

We won't really have fair trade until rich countries lose the big ag subsidies that impoverish millions of African farmers.

Henri Tournyol du Clos, Paris

Frankly, I do understand why that "fair trade coffee" fad should be so much discussed: it is about coffee, the brew around which the chattering classes in Continental Europe, and now the US, have congregated for two and a half centuries in public places, known as cafés, in order to ... chatter. So anything that has something to do with coffee has a high probability of being talked about and discussed and give rise to the weirdest theories.

However, my point is that the "fair trade" phenomenon has a very low probability of spreading to other products. It is first and foremost a "coffee" phenomenon, since, to most people, the reference prize in coffee is that of a cup of it in a public place, ie something which, for roughly 95%, is made of elements that have nothing whatsoever to do with coffee : manpower, rent, equipment, etc.

At home, I use one of the best (and expensive) industrial coffees in the world, Illy Nero, 250g of which retails online for 7€ and lasts my family more than a week to the tune of something like 4 double expressos a day. So even using luxury coffee puts the price of the expresso below 10 cents, a fair cry from the 1.20€ one has to fork out for a cup in the seediest of cafés in Paris.

Furthermore, the retail price of ground coffee has little to do with the price of coffee beans in the growing country itself : it incorporates transportation costs, roasting costs, marketing and distribution costs, etc.

So my guess is that coffee beans account for something like 1% of the price a café charges for an expresso.

In that case, one can see how easy it is for café owners, like Starbuck's, to appear to be doing valuable charity work through one of these "fair trade" schemes. It does not even cost them peanuts - as a matter of fact, peanuts would probably be more expensive... But in terms of public image, this has a huge leverage.

Now, the fad can spread to coffee bought in supermarkets for home consumption. Since people have in mind the price of coffee in a bar, they think naturally that when they pickup a pack of fair trade coffee instead of cheaper Nesbrand X they are getting good value for the implicit charity. Hum, hum.

I would, for once, side with The Economist, who ran a piece quite hostile to fair trade schemes a few months ago. This is a fad, and one should not build anything on fads. On the other hand, I would say that, in the long run, it is Western consumers buying better quality coffee that will be helping coffee growers in poor countries.

Michael Greinecker

Your link doesn't work, you included the point.

http://www.project-syndicate.org/commentary/rodrik14

Leonardo Becchetti

Dear Prof. Rodrik

I'm a full professor of Economics at University of Tor Vergata Rome (Phd at Oxford University) who has worked for several years on fair trade. I'm quite happy that an economist of your level and with your attention to social issues is interested at the issue.

I have worked on three directions: i) IO models of mixed oligopoly in which profit maximising incumbents (like Nestlè or Starbucks) react to the entry of fair trade producers both in prices and ethical stance. I have various versions of the basic model with static and dynamic law of motion of consumer tastes and different hypotheses on costs of "ethical distance". The basic analytical framework is a horizontal differentiation model in which distance is reinterpreted as willingness to pay something to foster development of south producers. These models easily show under which conditions incumbent (partially) imitates FTs and also address the issue of whether the incumbent would choose ethical imitation without the fairtraders.
The nice finding of the model is a paradox of a (mixed) duopoly which creates more social responsibility than a benevolent planner which maximises welfare of (North) consumers (including ethically concerned ones) would do.

ii) empirical analyses on consumers in the North in which I estimate their demand for FT producs and their willingness to pay for them (the paper is forthcoming on World Economy).
iii) impact studies on the effect of fairtrade on primary producers in which we test the effects of FT affiliation on various measures of producers' wellbeing and compare affiliated to a control sample (the paper is in second revision at World Development).

With this research I got some ideas on benefits, critical points an potential of fair trade.
I also elaborated responses to the two main criticisms on fair trade: i) distorsion of market prices ii) why it is better than the alternative of buying a standard product and giving money for charity.

To say something on the points you raised remember that Starbucks is a second mover, profit maximising imitators of FT pioneers which are the trade organisation which invented it. Their price breakdown is transparent differently from that of Starbucks (as far as I know) and includes a countercyclical mark-up on prices which goes up to 100 percent in period of low stock market prices on commodities such as coffee and cocoa. The mark-up is much higher on bananas.
The actual story of fair trade is a complicated competition between labelling organisations, alternative trading organisations, imitators such as Starbucks, dedicated retailers (world shops).
Consider that pioneers are not profit maximisers since their main goal is social inclusion of the producers (of course they do moderate profits) and that dedicated retailers are cooperative or not for profit enterprise with a significant share of volutary work.
Hence they do not need excess profits to transfer more to primary producers.
Another way to pass more to primary producers is by cutting margins of intermediaries (this can be done also by profit maximising entities).
On the field fair trade has been important also for its antitrust action on the local monopoly of moneylenders and transporters.
At the moment fairtraders are always more aware that capacity building and technical assistance is crucial to their success. There is nothing much different in fair trade from investment in a new differentiated product in the food industry (such as creating a new wine in Italy and the US). The difference is that it occurs by helping marginalised producers.
Fair trade discloses something very important also on the nature of individuals and firms.
Individuals are far from the homo oeconomicus simplification as their purchases and willingness to pay in excess for the FT feature of the products reveals.
And not only profit maximising firms exist but also cooperative and not for profit firms which compete with profit maxisising firms on the markets, even though they are obviously a minority.
What fair trade pioneers have done so far is limited but contagion effects are important. The crucial problem today is asymmetric information. The "ethical content" of the product is not an experience good. By buying more fair trade coffees you do not improve your knowledge of ethical content of fair trade. The crucial issue is therefore labels and competition among them. In an ideal world a variety of credible labels should signal exactly to consumers what each actor in this field does.

To answer to another comment to your blog. It is not true that FT is limited to coffee. At the moment its higher market share is 49 percent of bananas sold in Switzerland. In Europe its rate of growth (from low absolute levels of course) has been of 20 percent per year in the last 5 years.

We do not know whether fair trade will prosper as such but the novelty is important.
Consumers can vote with their portfolio by looking not just at price and quality but also to socially responsible features of products. This is simply an increase in democracy and participation. If the fair trade schemes will not work the market will find a similar scheme to satisfy these new consumer tastes. The door is open and the principle will become always more important. In financial markets the same is happening (SR funds which adopt one or more social screenings account for one tenth of all financial investment in the US).

I just discussed my work in several conferences in the last years and just last week in Rome in a series of seminars with Kaushik Basu.
I would be very happy to share some ideas with you.

Beyond the limits of theoretical modelling I accumulated some wider knowledge on the issue by consulting various actors in this field.


In a very famous, stimulating and provocative quote Keynes said in 1931 that “For at least another hundred years we must pretend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not [underlined is ours]. Avarice and usury and precaution must be our gods for a little longer still. For only they can lead us out of the tunnel of economic necessity into daylight."(Keynes, 1931)
In spite of all its imperfections and limits, Fair Trade and more in general the economics of social responsibility, by “creating (economic) value with values” seems to have something to do with the capacity of making the “fair useful” (in terms of value creation), thereby abridging the 100-year “transition” of the Keynes’ prophecy.


Here below you can find references to my work which is downloadable (the working paper part) on Repec on the Faculty website
Unfortunately versions of these papers you find in internet are not fully updated. I can provide you more recent ones.


1. L.Becchetti F.C. Rosati, 2006, Globalisation and the death of distance in social preferences ad inequity aversion: empirical evidence from a pilot study on fair trade consumers, CEIS Working Paper, n.216 and World Economy (forth.)
2. Becchetti, L., Costantino M., The effects of Fair Trade on marginalised producers: an impact analysis on Kenyan farmers, CEIS Working Paper (under second revision at World Development)
3. Becchetti L., Giallonardo L., Tessitore E., Corporate Social Responsibility and Profit Maximizing Behaviour, CEIS Working Paper
4. Becchetti, L. Solferino, N., 2003, On ethical product differentiation, CEIS Working Paper n.188
5. Becchetti, L. Solferino, N., 2003, A virtuous interaction between pressure groups, firms and institutions: a subsidiarity principle in a horizontal differentiation model CEIS Working Paper n. 194.
6. Becchetti L., Giallonardo L., and Tessitore M.E., 2006, Consumer driven market mechanisms to fight inequality: the case of CSR/product differentiation models with asymmetric information, ECINEQ working paper.
7. Leonardo Becchetti, Luisa Giallonardo, and Elisabetta Tessitore, 2006, "Consumer driven market mechanisms to fight inequality: the case of CSR/product differentiation models with asymmetric information" ECINEQ working paper n. 50

Eric Crampton

Henri is pointing at the right answer. There's little cost difference between fair trade and regular coffee because the cost of beans is a minor fraction of the cost of a cup of coffee at the retail level. Tim Harford discusses this in his Undercover Economist book.

Douglas Knight

From what I've heard, the price differential of buying fair trade coffee in a grocery store is passed on to the farmer, while in coffee shops it is usually price discrimination. I'm surprised to hear that there is no premium at Starbucks, especially if it is the beans, not the cup, as Gretchen Gordon says.

Sonia

Consider a couple of other possibilities. Most coffee beans whether fair trade class or not are the same price at a retailer yet there are probably some within class differences in the cost of production and also the wholesale prices. By selling all (or most) of beans at the same price the retailer discourages switching beans. Also by selling brewed coffee at the same price the retailer encourages the buyer to think that the retailer is a providing a charitable service foregoing profit. A third possibility is that the fair trade coffee is inferior in some respects (less fresh whatever). The buyer prefers more value added to the producer and less to roaster importer etc.

Sonia

Leonardo de Becchetti is quite stimulating. Where does the Ethiopia vs Starbucks branding controversy fit in? Could a similar analysis apply to environmental issues,e.g. electricity purchased from scrubbed coal?

Rav Casley Gera

I'm not a trained economist, so forgive me if my response lacks the rigour of some others. But I suspect Prof. Rodrik is confusing Fairtrade (which is a clearly defined system with its own branding) with an array of other, vaguer "ethical" marketing schemes.

The Fairtrade Foundation awards its mark to products based primarily on the proportion of the wholesale price that goes to the farmer. There are a few minor environmental factors, but these would require minimum adaptation for small farmers.

These are the standards of "official" Fairtrade:

http://www.fairtrade.org.uk/about_standards.htm

There are, however, a host of other ethical products out there - Kenco, for example, have just launched an "ethically sourced" coffee range, without really explaining what that means. Many of these do include environmental aspects, and may indeed increase costs to producers.

It's understandable for economists, who after all tend to value free markets, to be skeptical of Fairtrade. But the collapse of the prices of coffee and other primary goods in the last twenty years, owing partly to IMF-sponsored overproduction, makes it necessary - non-fairtrade farmers have been forced in recent years to sell coffee crops for less than production cost.

These examples give an idea of the benefits. While we should be skeptical of the "ethical industry," the benefits of properly assessed Faitrade goods are demonstrable.

http://www.fairtrade.org.uk/about_benefits.htm

The Economist's point about Fairtrade was the opposite - not that it doesn't work, but that it works too well. By raising incomes, it argues, Fairtrade discourages diversification. There may be something in this. But it's important to note that farmers who can barely feed their families are unable to make the capital investments needed, even merely in seed, to diversify. A better income - and a promise of a fair price into the future - is surely a more fertile environment for diversification and innovation? In other words, poor people in developing countries haven't diversified from cash crops because they're stupid, but because they can't afford to. I don't have numbers for this to hand, but I'm sure it's been demonstrated.

I'll admit to being quite frustrated that intelligent and highly educated economists seem so eager to dismiss Fairtrade without properly investigating it. It seems unfair to call a "fad" something that has been expanding its market share for over ten years; and which has transformed and, indeed, saved thousands of lives in developing countries. And to suggest it's limited to coffee is, as pointed out above, simply false.

Of course, Fairtrade won't expand nonstop until it affects 100% of agricultural exports. But unlike organic, it's at least technically possible for it to do so: enough food *can* be generated under Fairtrade conditions, because they're not primarily environmental but about the supply chain.

There is no reason in theory why all farmers can't recieve a living wage for popular agricultural exports that are generating huge profits further up the supply chain.

wkwillis

This is not the first fairtrade situation. One of the earlier ones is when the German chocolatiers persuaded the Spanish government to abolish slavery in Sao Tome and Principe around the turn of the century.
Technically it wasn't slavery, it was a labor draft with a 90% death rate, but the Germans wouldn't stand for it and got it abolished.

yves

When consumers buy fair trade versions of products from big-time sellers, consumers have no idea what happens to the money and if their purchases are helping those particular producers. Specifically, it is unclear what happens to our money when we buy the Fair Trade Blend (FTB) at Starbucks. Are the FTB sales revenues earmarked for a special "producers fund"? If so, is Starbucks taking a hit by not charging more? It would be interesting to see how revenues match up to the cost structure, if at all.

This is entirely different from making the decision to shop at a purely organic store or farmers market.

And different from Burger Kind's decision to shift to buying only "free-range" eggs for use in its restaurants.

Another separate matter is the use of the word "fair" when describing trade, and whether we have a shared understanding of what that means (and whether a real definition even exists).

Leonardo Becchetti

I realize that my first intervention was a bit general and I want to provide a quick response to the specific issue posed in the blog (can Starbuck claim that its fair trade coffee has higher profit margins even though it is sold at the same price of the other coffees ?).

The question is simple is we consider the breakdown of the coffee price in the traditional and in the fair-trade value chain.
Consider that farmers receive around 10 percent on the final coffee price in the standard (non fair-trade) value chain while they receive directly up to 100 percent more from fair trade (20 percent of the final price). Actually the extra payment provided by fairtraders is not constant across time but anticylclical. Data of the last 20 years tell us that the additional payment of fair traders goes down to an additional 10 percent when the stock market coffee price booms (it happened for short periods several times due to climatic shocks in Brasil) and goes up to an additional 100 percent or more when the stock price is low (factors which bring it down are technological progress in cultivation and the strong increase in supply from Vietnam).

Hence, put the price of coffee equal to 1 (euro or dollar) for simplicity.

Starbuck by adopting the fair-trade approach must pay 10 cents more (if we consider the 100 percent additional payment) but can still increase profits if consumers’ willingness to pay for the additional “ethical” feature of the coffee is higher than 10 cents (which is just a 10 percent more on the final price). Hence by selling the final coffee at 1.11 its claim may be true. If Starbuck cuts margins of local intermediation (which is one of the goals of fair trade) the condition may be further relaxed.
The problem is that Starbuck claims that it sells the fair-trade coffee at the same price than other coffees (which can be easily verified, even though not in Italy were we do not have Starbuck shops). Hence, if this is true, it must save more than 10 cents elsewhere in the value chain. It can happen either by reducing the roaster share (it is usually around 18 percent of the final price) or the local intermediation share (around 20 percent of the final price). Are such drastic reductions in these shares plausible ?

Consider also that, even though Starbuck mimics fairtraders in paying the additional amount to farmers, fairtraders do much more. They generally cut the local intermediation and pay first level producers association up to 25 percent of the final price for the provision of public goods to affiliated farmers (technical assistance, education, health, etc.). We found in Kenya that support to the producer organisation is as important in terms of effects on farmers’ wellbing as the direct contribution to producers. This is integral part of the fair-trade issue. It is even more difficult that Starbuck can do both things (additional payment to farmers, payment to the producer association) by doing more profits and without changing the final price.

Other differences between Starbuck and fairtraders: i) dedication of Starbuck to fair-trade is related to its capacity of making profits from the FT products (and therefore to the conditions stated above), that of pioneers goes beyond since they are not profit maximisers. This means that they have less constraints in pursuing social goals; iii) pioneers may say that they have a 100 percent faitrade product portfolio, while Starbuck should be evaluated (by ethical consumers) on its net social responsibility outcome (difference between its social responsible activities and the others).

For all these reasons ethically concerned consumers should welcome as an important contagion effect the move of Starbuck but should vote with their portfolio for the pioneers if they want to foster further this bottom up process which increases social responsibility in the market economy

Michael Greinecker

On related news:

www.economics.com.au/?p=809

Martin Richardson

There is some other analytical economics on fair trade, beyond Becchetti and Adriani: see http://www.ecocomm.anu.edu.au/research/papers/pdf/wp481.pdf

Swarnim

Dani, possibly the kind of paper on Fair Trade that you wanted to see back in April?

http://eprints.otago.ac.nz/716/01/DP_0709.pdf

Swarnim

Oops, didn't see that Martin Richardson had posted a link already.

Rishabh Tagore

Dear All

It is my pleasure to come in touch with you!
I am an 11 year old student at United World College of South East Asia, in Singapore. I would like to learn about fair trade and how it affects the environment in association with my school work. Could you please answer these questions for me?

How does globalized trade affect the environment?

How does fair trade support the environment?

What can consumers do to support fair trade?

Thanks a lot! |

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