Agricultural Commodities Volatility in Some Selected Markets in the Northern and Western States in Nigeria
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 33087
Agricultural Commodities Volatility in Some Selected Markets in the Northern and Western States in Nigeria

Authors: T. Danjuma, N. M. Ike-Muonso, H. C. Chinwenyi

Abstract:

The price volatility of agricultural commodities in Nigeria market is very essential and understanding its future evolution is important for informed decision making to policymakers. In this paper, we examined the volatilities of some agricultural commodities such as maize (white), cowpeas (brown) and sorghum (white) in Mubi and Dawanau markets in the Northern part of the country and compared its volatilities with the same agricultural commodities from Lagos and Ibadan markets in the Western part of Nigeria.

Keywords: Agricultural commodity, agricultural market, derivatives, volatility, price.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 50

References:


[1] Matthews, A. (2010), Perspectives on addressing market instability and income risk for farmers. Joint AES and SFER conference on The Common Agricultural policy post 2013. Edinburgh. March 2010.
[2] Borawski, P., Beldycka-Borawska, A. and Dunn, J.W. (2018). Price volatility of Polish agricultural commodities in the view of the Common Agricultural Policy. Agric. Econ. – Czech, 64: 216–226.
[3] Zheng, P. and Xuyun, Z. (2023). Price volatility transmission of perishable agricultural products: evidence from China, Economic Research-Ekonomska Istraživanja, 36(1), 2180058, DOI: 10.1080/1331677X.2023.2180058
[4] Boyd, C. M. and Bellemare, M. F. (2020). The microeconomics of agricultural price risk. Annual Review of Resource Economics, 12(1), 149–169. https://doi.org/10.1146/annurev-resource-100518-093807
[5] Abdallah, M. B., Farkas, M. F. and Lakner, Z. (2020). Analysis of meat price volatility and volatility spillovers in Finland. Agricultural Economics, 66(2), 84–91.
[6] Chavas, J. P. and Pan, F. (2020). The dynamics and volatility of prices in a vertical sector. American Journal of Agricultural Economics, 102(1), 353–369. https://doi.org/10.1093/ajae/aaz038
[7] Tan, Y., & Zeng, H. (2019). Price transmission, reserve regulation and price volatility. China Agricultural Economic Review, 11(2), 355–372. https://doi.org/10.1108/CAER-04-2017-0062
[8] Food and Agricultural Organization (FAO). (2018). FAO Food Price Index: World Food Situation. Food and Agriculture Organization of the United Nations, Rome: FAO.
[9] Minot, N. (2014). Food price volatility in sub-Saharan Africa: Has it really increased? Food Policy,45, 45-56. doi.org/10.1016/j.foodpol.2013.12.008.
[10] Adams, P. and Paice, E. (2017). The silent crisis of food price inflation in Africa. African Research Institute, Understanding Africa Today.
[11] Uduji, J.I., Okolo-Obasi, E.N. and Asongu, S. A. (2019a) Farmers’ Food Volatility and Nigeria’s Growth Enhancement Support Scheme. Working Papers of the African Governance and Development Institute, 19/075: African Governance and Development Institute (AGDI). https://ideas.repec.org/s/agd/wpaper.html
[12] Uduji, J.I., Okolo-Obasi, E.N. and Asongu, S.A. (2019b). Farmers’ Food Volatility and Nigeria’s Growth Enhancement Support Scheme. European Xtramile Centre of African Studies Working Papers, 19/075. European Xtramile Centre of African Studies (EXCAS). https://ideas.repec.org/s/exs/wpaper.html
[13] Smith, J., and Abraham, M. (2016). PACSA Food Price Barometer Annual Report. The Pietermaritzburg Agency for Community Social Action, Pietmaritzburg: PACSA.
[14] Adesina, A. (2012). Agricultural transformation agenda: Repositioning agriculture to drive Nigeria’s economy. Abuja: Federal Ministry of Agriculture and Rural Development.
[15] Arezki, R. and Bruckner, M. (2016). Food Prices and Political Instability. IMF Working Paper No. 11/62, Washington, DC: International Monetary Funds.
[16] Alper, C.E, Hobdari, N., and Uppal, A. (2016). Food inflation in sub-Saharan Africa: Causes and policy implications. IMF Working Paper, WP/16/247
[17] Wajid, H., Rasul, S. and Zahra, H.S. (2021). Impact of price volatility of agriculture commodities vs food in case of Pakistan. Sarhad Journal of Agriculture, 37(3): 877-883. DOI |https://dx.doi.org/10.17582/journal.sja/2021/37.3.877.883
[18] Adeyemi A. O., Omobola A., Oluwatomisin, M., O. and Abiola, J. A. (2019). Macroeconomic Impact of Agricultural Commodity Price Volatility in Nigeria. The Open Agriculture Journal. 13:162-174. DOI: 10.2174/1874331501913010162
[19] World Bank Report (WBR). Agriculture for Development Available @ https://openknowledge.worldbank.org/handle 2008; accessed 27.08.2023.
[20] Adebayo, O. Olagunju, K. Kabir, S. K. and Adeyemi O. (2016). Social crisis, terrorism and food poverty dynamics: evidence from Northern Nigeria. Int. J Eco Financial Issues 6(4): 1865-72.
[21] Osabohien R., Osabuohien, E. and Urhie, E. (2018). Food security, institutional framework and technology: Examining the nexus in Nigeria using ARDL approach. Curr Nutr Food Sci.,14(2): 154-63. http://dx.doi.org/10.2174/1573401313666170525133853
[22] Danjuma T. and Dange M. S. (2022). Empirical Estimation of the Parameters of Stochastic Interest Rate Models Using Euler – Maruyama Maximum Likelihood Method. International Journal of Science for Global Sustainability. 8(1): 13 – 18.
[23] World Food Programme (WFP) Food Prices for Nigeria. Available @ https://data.humdata.org/m/dataset/wfp-food-prices-for-nigeria?; accessed 27.08.2023