The 2007 Freeze: Tallying the Toll Two Months Later

Carman, Hoy F. and Richard J. Sexton

from ARE Update Vol. 10, No. 4, March/April, 2007

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Abstract

This paper assesses the production losses and the resulting price impacts from the severe January freeze in California. Predictions made at the time of the freeze concerning product shortages were largely incorrect due to market adjustments in the form of revised trade flows and higher prices. Indeed, positive price effects offset much of the aggregate revenue loss from reduced harvests.

Keywords

freeze, crop, price, loss, import, market

Citation

Carman, Hoy F. and Richard J. Sexton. "The 2007 Freeze: Tallying the Toll Two Months Later." ARE Update 10(4)(2007):5-8. University of California Giannini Foundation of Agricultural Economics.
https://giannini.ucop.edu/publications/are-update/issues/2007/10/4/the-2007-freeze-tallying/