volume 46 issue 2 (june 2012) : 155 - 160
ANALYSIS OF FACTORS AFFECTING CEREALS PRICING IN ABIA STATE OF NIGERIA
1Michael Okpara University of Agriculture, Umudike
P. M. B. 7267, Umuahia Abia State, Nigeria
Published In
Indian Journal of Agricultural Research
Article Metrics
0
Views
0
Citations
Reviewed By
In this Article
APC
APC cover the cost of turning a manuscript into a published manuscript through peer-review process, editorial work as well as the cost of hosting, distributing, indexing and promoting the manuscript.
Publish With US
Submit your manuscript through user friendly platform and acquire the maximum impact for your research by publishing with ARCC Journals.
Become a Reviewer/Member
Join our esteemed reviewers panel and become an editorial board member with international experts in the domain of numerous specializations.
Open Access
Filling the gap between research and communication ARCC provide Open Access of all journals which empower research community in all the ways which is accessible to all.
Products and Services
We provide prime quality of services to assist you select right product of your requirement.
Support and Policies
Finest policies are designed to ensure world class support to our authors, members and readers. Our efficient team provides best possible support for you.
volume 46 issue 2 (june 2012) : 155 - 160
ANALYSIS OF FACTORS AFFECTING CEREALS PRICING IN ABIA STATE OF NIGERIA
1Michael Okpara University of Agriculture, Umudike
P. M. B. 7267, Umuahia Abia State, Nigeria
ABSTRACT
The current world food crisis is the result of the combined effects of competition for cropland from the growth in biofuels, low cereal stocks, high oil prices, speculation in food markets and extreme weather events. The crisis has resulted in a several-fold increase in several central commodity prices, driven 110 million people into poverty and added 44 million more to the already undernourished. This has necessitated this study on the factors affecting cereals pricing in Abia State of Nigeria. Specifically, the study examined the socioeconomic characteristics of the farmers, the price trend of cereals and factors influencing the price of cereals in the market. Multistage sampling technique was used in selecting the respondents used for the study. Both primary and secondary data were used for the study. Data collected were analyzed using descriptive statistical tools such as frequency distribution, percentages, means, etc, charts to show the price trend, and regression analysis. Result of the trend analysis show that price of cereals has been on the increase over the years. The significant factors influencing cereals price were interest rate (P > 0.05), exchange rate (P > 0.01), demand for cereals as raw materials which was proxied by industrial production (P > 0.10) and time trend (P > 0.05). The study equally revealed an inefficient market for cereals. There is therefore, the need to decrease the risk of highly volatile prices through price regulation on commodities and larger cereal stocks should be created to buffer the tight markets of food commodities and the subsequent risks of speculation in markets. This includes reorganizing the food market infrastructure and institutions to regulate food prices and provide food safety nets aimed at alleviating the impacts of rising food prices and food shortage, including both direct and indirect transfers, such as a global fund to support micro-finance to boost small-scale farmer productivity
REFERENCES
- Brahmbhatt, M. and Christiaensen, L. (2008) Rising Food Prices in East Asia. Challenges and Policy Options. Sustainable Development Department of the East Asia and Pacific region of the World Bank, Washington D.C.
- Erenstain, O. and F. Larcon (2002) “Potentials and Prospects for Rice Production in West
- Africa.” Paper presented at the Sub-Regional Workshop on Harmonization of policies and coordination of programmes on Rice in the EOWAS Sub-Region, Accra, Ghana,. 25-28 February.
- FAO (2008) The state of food and agriculture 2008. FAO, Rome.
- Federal Republic of Nigeria (2007) Official Gazette: Legal Notice on publication of the details of the breakdown of the National and State provisional totals 2006 Census. Government Notice Nr 21. Nr. 24. Vol. 94. Lagos, Nigeria: Federal Republic of Nigeria.
- Frankel, J. A. (2006) “The Effect of Monetary Policy on Real Commodity Prices”, NBER Working Paper No. 12713.
- Harvey, D. I., N. M. Kellard, J. B. Madsen and M. E. Wohar (2008) The Prebisch-Singer Hypothesis: Four Centuries of Evidence, School of Accounting, Finance and Management,
- University of Essex, Wivenhoe Park, Colchester
- Iheke, O. R. and I. O. Obasi (2009) Household energy needs: an economics analysis of fuel wood marketing in Umuahia metropolis of Abia state, Nigeria. Proceedings of the 43rd Annual Conference of the Agricultural Society of Nigeria (ASN), 20th – 23rd October, 2009. pp 208-311
- Nellemann, C. (2010) The Environmental Food Crisis, UNEP/GRID-Arendal
- Nigerian Population Commission (NPC) (2006) 2006 Nigerian Census Figures. Nigerian Population Commission, Abuja.
- Scarborough, V. and J. Kydd (1992) Economic Analysis of Agricultural Markets, a Manual, Cahtta, NRI, UK.
- Toye, J. F. J. and R. Toye (2003) “The Origins and Interpretation of the Prebisch-Singer Thesis”, History of Political Economy, Vol. 35 (3): 437-467
- Uboh, N.T. (2001) Analysis of Marketing Efficiency of Garri in Umuahia Agricultural Zone of Abia State, Unpublished B.Sc. Thesis, Michael Okpara University of Agriculture, Umudike.
- UNEP/GRID (2010) The Environmental Food Crisis, Arendal, Norway
- World Bank (2008). Rising Food and Fuel Prices: Addressing the Risks to Future Generations. World Bank, Washington, D.C.
- World Bank (2009). Global Economic Prospects: Commodities at the Crossroads. World Bank, Washington, D.C.
Disclaimer :
All claims expressed in this article are solely those of the authors and do not necessarily represent those of their affiliated organizations, or those of the publisher, the editors and the reviewers. Any product that may be evaluated in this article or claim that may be made by its manufacturer is not guaranteed or endorsed by the publisher.
Copyright :
This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
In this Article
APC
APC cover the cost of turning a manuscript into a published manuscript through peer-review process, editorial work as well as the cost of hosting, distributing, indexing and promoting the manuscript.
Publish With US
Submit your manuscript through user friendly platform and acquire the maximum impact for your research by publishing with ARCC Journals.
Become a Reviewer/Member
Join our esteemed reviewers panel and become an editorial board member with international experts in the domain of numerous specializations.
Open Access
Filling the gap between research and communication ARCC provide Open Access of all journals which empower research community in all the ways which is accessible to all.
Products and Services
We provide prime quality of services to assist you select right product of your requirement.
Support and Policies
Finest policies are designed to ensure world class support to our authors, members and readers. Our efficient team provides best possible support for you.
Published In
Indian Journal of Agricultural Research