Impact of Anthrax on the Price Elasticity of Beef in the Market of Bangladesh

Topics: Supply and demand, Milk, Anthrax Pages: 11 (3613 words) Published: April 16, 2012
1.0 Introduction

A sudden anthrax attack has caused panic among the beef consumers in Bangladesh. The demand and sale of beef are falling drastically across the country following reports of outbreak and spread of anthrax attack on cattle and human beings in different areas. This year in Bangladesh the disease was first identified in Sirajganj on Aug 19, at Chithhulia village under Kayempur of ShahjadpurUpazila. There at least 26 people, including two children, showed signs of infection. After that the disease has spread to Pabna, Tangail and Kushtia, and more areas across the country. Over 600 people were infected by the disease. This is not the first time that anthrax has been detected among the cattle in Bangladesh but it is the first time it spread among the people.

1.1Origin of the Report:

This report on “Effect of Anthrax on the price elasticity of beef market in Bangladesh” is a partial requirement of the course entitled Micro Economics, supervised by Mohammad Asad-Uz-Zaman,Lecturer, Institute of Business Administration, University of Dhaka.

1.2 Objective of the Report:

The fundamental aim of the report is to highlight the major economic aspects that have aroused due to the recent outbreak of anthrax in Bangladesh. The primary objective of the report is to present the economic crisis that has occurred in the recently past few months. That is, the report illustrates the major market shifts that has occurred in the beef market and the other related markets such as chicken and fish during the time period of the recent outbreak of anthrax in Bangladesh.

1.3 Scope of the Report:

This report on recent outbreak of anthrax in Bangladeshhas been written in context of Bangladesh. Accordingly the facts and details presented in the report are those relevant to the issue in hand. That is to say only the information related to the recent outbreak of anthrax in Bangladesh, especially inDhaka, has been presented.

1.4 Data Collection Procedure:

The report mostly is constituted of secondary data. The data was collected after thorough research on the topic. This report is based primarily on the data collected via the internet, both recent and dated. In addition several newspaper and magazine articles on the recent outbreak of anthrax inBangladeshhave provided information critical to the report. Primary data also essential to the construction of this report has been collected via interviewing several personnel including Government officials related to the capital city’s market control.

1.5 Limitation of the Report:

The main obstruction in the making of the report was the absence of a primary source of information. The matter of this report is such that it was very difficult for us to identify a primary source for information. Consequently the secondary sources, mainly the internet and the published articles on this topic, were the mere basis of information available to us. Nevertheless every effort was made to ensure that the secondary data gathered was accurate and up to date. However, it is possible that information on the websites was not updated regularly or the facts presented in the articles as well as the websites were not objective. This could also limit the significance of the findings in this report.

2.0 Overview

2.1 Importance of Beef

As shown in the pie chart, beef is the most popular meat in the nation, consisting of almost half of the total meat consumed in the nation. Beef items are considered as luxury cuisines both around the globe and in Bangladesh. The anthrax outbreak seriously threatens the beef market and the livelihood of the people who make their living through this industry.

2.2 What is anthrax?

Anthrax is one of the oldest diseases of grazing animals such as sheep and cattle. Anthrax is caused by Bacillus anthracis, a bacterium that forms spores. A spore is a cell that is dormant but may come to life with the right conditions. There are three types of anthrax:...
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