Economic Importance of Plants - Research Article from Macmillan Science Library: Plant Sciences

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Value of Plants

According to the United Nations Food and Agriculture Organization, the estimated export value of major plant commodities traded in world markets for 1998 was: rice ($9.9 billion dollars), maize ($9.1 billion), wheat ($15.1 billion), soybeans ($9 billion), coffee greens and roast ($13.7 billion), sugar ($5.9 billion), tobacco ($24.1 billion), cigarettes ($15.4 billion), lint cotton ($8.2 billion), forest products ($123 billion), and forest pulp for paper ($13 billion).

Markets, a place where people buy and sell goods and services, determine the economic value of plants. The value depends on the expected uses and benefits provided. The economic value of plants is measured by their prices in a market economy. Demand and supply determine the price. In most countries, markets operate freely with little direct government interference in trading. In centrally planned economies such as China, however, the government frequently controls market operations, and buys and sells through government companies. In planned economies, governments may set prices...

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This section contains 1,686 words
(approx. 6 pages at 300 words per page)
Buy the Economic Importance of Plants Encyclopedia Article
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Macmillan Science Library: Plant Sciences
Economic Importance of Plants from Macmillan Science Library: Plant Sciences. Copyright © 2001-2006 by Macmillan Reference USA, an imprint of the Gale Group. All rights reserved.
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