JAPANESE DEMAND FOR WHEAT-PROTEIN QUANTITY AND QUALITY

Ladd and Martin's hedonic pricing model is extended to include the int eractive effect of noncontracted characteristics on the value of contr acted characteristics. Marginal values of wheat protein in the Japanes e import market are estimated using the interactive effects of noncont racted dough/flour characteristics typically proxied by protein. Prote in value is linked positively to farinograph stability, a prime factor in blending different flours. Three high protein wheats maintained ab out the same marginal value of protein. The marginal value for the two low protein wheats appear more end-use dependant. They varied in a $2 .00/ton range depending on protein absorption, stability, and extensib ility.