Variances in consumers prices of selected food items among markets in Cross River state

Abstract

The study focused on the determination of variances among consumer prices of rice (local white), beans (white) and garri (yellow) in Watts, Okurikang and 8 Miles markets in southern zone of Cross River State. Completely randomized design was used to test the research hypothesis. Comparing the consumer prices of rice, beans and garri in the three markets; rice and garri had insignificant differences in their consumer prices while beans consumer prices had significant differences between Okurikang market and the other two markets. The results imply perfect information flow in garri and rice markets and hence high possibility of a perfectly competitive market structure for these products. The reverse is the case for beans market. Policies on increased local production of rice, garri and beans as well as improved marketing infrastructures were recommended as these would help increase sellers profit while maximizing consumers’ benefits.

KEY WORDS: price, market, consumer, garri, rice, beans.