| Abstract: | The article discusses the structure of the market for milled maize products, emphasizing that products embody different levels of service as well as different physical characteristics. Different levels of capital intensity may be obtained by selecting alternative sources of supply for plant and machinery - this is especially important for a merchant mill producing a refined product, the core process of which is often regarded as technically rigid. A detailed comparison of Indian and West European equipment shows that for the market prices considered, the Indian equipment is likely to be preferred. The interrelationship between the structure of the capital goods sector, the rate of technical progress and choice of technique issues is discussed. |
