Spatial Pricing Efficiency of Palm Kernel Markets in Southeast, Nigeria
The study examined spatial pricing efficiency of palm kernel markets in Southeast, Nigeria. A multi-stage sampling technique was adopted in sampling 120 palm kernel marketers for the study. Data were collected using structured questionnaire and analyzed using descriptive statistics, spatial price model and Pearson correlation matrix. Socioeconomic characteristics of the marketers showed a mean age of 48 years, majority (59.2%) were females, with many (69.2%) married. Mean household size of 7 persons was recorded and they all had formal education. Mean marketing experience of 12 years was recorded from the study and half (50%) do not belong to any market unions. Quite a number (75%) of the marketers use personal savings as source of finance for the palm kernel business. There was positive price spreads in all the market pairs which suggest inefficiency in palm kernel marketing in the study area. There were also significant differences in the average price of palm kernel between the urban and rural market pairs. Positive correlation coefficient values were recorded between the market pairs which suggest symmetry and co-movement of prices between the urban and rural markets. The study recommends that credit facilities should be advanced to the marketers and that there should be provision of more market outlets in the area to increase competition within the markets.
NAJ supports free online communication and exchange of knowledge as the most effective way of ensuring that the fruits of research and development practice are made widely available. It is therefore committed to open access, which, for authors, enables the widest possible dissemination of their findings and, for readers, increases their ability to discover pertinent information. The Journal adopts and uses the CC: BY license and is open access. This license lets others distribute, remix, adapt, and build upon your work, even commercially, as long as they credit you for the original creation. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the Journal’s published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work. Copyright for articles published in this Journal is retained by the Journal.