PRICE TREND ANALYSIS OF SELECTED FOOD GRAINS IN OGUN STATE, NIGERIA (1988-2012)
DOI:
https://doi.org/10.51406/jagse.v13i1.1216Keywords:
Price, Grain Crops, Growth Model, Ogun StateAbstract
The study examined the price trend of some selected food grains in Ogun State, Nigeria, using descriptive statistics, graphical representation and growth model to analyze its dynamic behaviour over the period of 1988-2012. The study was based on secondary data obtained from Ogun State Agricultural Development Programme for the period (1988-2012) and it covered the rural and urban monthly retail prices of three (3) food grains viz: maize (white and yellow), rice and cowpea (white and brown). Results of analysis revealed a consistent long-term movement or change in the prices of the food grains for both markets. While price fluctuation was observed more with maize and cowpea, minimal adjustments were observed in rice. Exponential regression analysis showed a positive significant coefficient i.e. an upward trend in prices of both rural and urban markets with a significant F-statistics (p<0.01). The highest growth rate was seen in white cowpea in the urban market (i.e. 4.78%) while the least growth rate was in white maize in the rural market (i.e. 3.50%).
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