ANALYSIS OF INTER-TEMPORAL PRICING EFFICIENCY OF SORGHUM IN GUYUK LOCAL GOVERNMENT OF ADAMAWA STATE, NIGERIA

D. C. Maurice, J. Usman, J. W. Zalkuwi

Abstract


The study examined Inter-temporal pricing efficiency of sorghum in Guyuk Local Government of Adamawa State, Nigeria. Data were collected from both primary and secondary sources. Purposive and random sampling techniques were employed in the study, where five markets were purposively selected and twenty marketers were randomly selected in each market. The seasonal price pattern of sorghum from 1996-2009 was collected and analyzed using index number approach through the use of simple regression analysis. Average monthly storage cost of sorghum was estimated from the primary data collected. The findings revealed that female marketers dominated sorghum marketing in the study area and had one form of formal education or the other. Their marketing capital was mainly from personal savings with an initial investment capital of less than N10,000. There was the existence of seasonal variation in the price pattern of sorghum with an average monthly price rise of 8.97%, with September being the peak period and March being the lowest. The result further indicated efficiency in the pricing system of sorghum as average monthly storage cost exceed average monthly price rise of the commodity, thus establishing the existence of inter-temporal pricing efficiency. 


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References


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