Price Fluctuation and Market Integration of Selected Cereal in North-eastern Nigeria, 2001-2010
Price Fluctuation and Market Integration of Selected Cereal in North-eastern Nigeria, 2001-2010
ABSTRACT
Prices contain information crucial to maximizing the returns to production and marketing investments. At planting time, a farmer's planting decision depends on expected profits, which invariably hinge on the anticipated prices of the crop or mix of crops that would prevail in the market at the time of sale and on the farmer's interpretation of those prices. A trader, in search of profitable arbitrage, reads and translates price signals in deciding on what crops to buy, where to buy, and when to sell. Apart from guiding production and marketing decisions, prices govern the optimal allocation of resources among competing uses. The accuracy, reliability, and promptness of market information are therefore critical in attaining...