Role of market information in the performance and spatial integration of grain markets in Kaduna State
AbstractThis paper examines the role market information can play in the performance of the grain marketing system. The analyses were based on data collected from a cross section of two sets of grain traders with and without access to market information. empirical results from the study show that grain traders obtained market related information from colleagues, market associations and mass media, which enables them to forecast likely future market trends, making business decisions and in allocating resources among competing alternatives. Statistical test indicated a significant difference between the marketing efficiency ratios of grain traders with and without access to market information at the five percent level of probability. the degree of spatial arbitrage between the markets showed that markets for those with access to information were integrated, while markets for traders without access to market information were not. setting up a mechanism for the collection, monitoring and analysis of price trend data, organizing training workshops for grain traders in processing and interpretation of market information, use of traders association in collecting information to a central pool where it can be collated and made available to members.
Keywords: market information, performance, spatial integration, grain markets, Kaduna State
International Journal of Agriculture and Rural Development Vol. 6 2005: 126-131