Inter-market and Seasonal Variation of Maize in Kwara State
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Date
2005-12-01
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Faculty of Agriculture
Abstract
This study investigated inter-market and seasonal variation in prices of
maize in Kwara State. Secondary time series data on the average monthly retail price of
maize in urban and rural markets between 1998 and 2003 were used for the study.
Primary data on the average storage cost of maize and the average selling price of maize
for 2004 were also used for the study. The study described the seasonal pattern of maize,
examined its seasonal price rise and analyzed the inter-market variation in prices of
maize in the study area.
The study revealed that the seasonal price rise exceeds storage cost but the difference is
minimal. The effect of kilometer separation between market- pairs on their Price
difference is significant (p < 0.05). Thus, if storage cost should be reduced the Intermarket
price variation will be reduced while transportation cost should also be reduced
to facilitate the movement of food commodities between markets.
Description
Keywords
Inter-market, Seasonal Variation, Price-difference, Maize