# PDPE Market Analysis Tool: Import Parity Price. What insights can this tool provide? How to analyse, interpret and use the data

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4 tariff. It could be difficult to get monthly data on transportation costs. As a first approximation, one could assume constant transportation costs. IPP: P fob : XR: LC: US\$: Mt: fob: cif: [( P + Tr) * XR( T )] IPP = fob 1+ Import parity price (LC/Mt) World (or cheapest cif import) market price for rice (US\$/Mt) Exchange rate local currency vs. US\$ (LC/US\$) Local currency unit US dollar (or currency of source country) Metric ton free on board, i.e. price of a good in the country of origin cost, insurance and freight, i.e. price of a good in the country of destination (at the border) T: ad valorem 3 tariff (in %) Tr: transport costs, port handling, etc. (US\$/Mt) Example: Import parity price for rice at the border of Bangladesh for April 000 (see Dorosh, 001): P Delhi = Rs/Kg XR = 1.17 /Rs Tr1 = 1.30 Rs/Kg (transport from New Delhi to border) Tr = 1.10 /Kg (transport from border to Dhaka) Tr3 = 1.53 /Kg (transaction costs from border to Dhaka) T = 5% (tax) Possible refinements: i) Imports might not respond instantaneously to a widening gap between domestic wholesale prices and IPP. The graph might therefore show a clearer picture if the import series is lagged against the price series. ii) Rs Rs IPP border = *[ ] = Kg Kg Rs Kg If imports arrive discontinuously, e.g. because they arrive by ship, and if in one month by coincidence 3 ships arrive, imports are huge and bias the analysis. In that case, it might be better to use 3-month averages. iii) The assumption that transportation costs are constant could be weakened. Volumes and fuel prices are two important determinants of transportation costs. If fuel prices change significantly, transportation costs could be The IPP proposed here is different from the one that is used for procurement purposes, which should exclude tariffs (if food aid is exempt) and is calculated in US\$. Procurement is interested in actual purchases for food aid. The IPP in this tool is about the incentive (in local currencies) to the private sector for commercial food imports, which would include payments of tariffs, etc. 3 Ad valorem tariffs are tariffs as a percentage of the value of a good rather than as a fixed amount. Tariffs charged as an amount per weight or volume could also be incorporated. 4

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