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Analysis of Spatial Price Efficiency in Rural and Urban Markets in Nigeria

Analysis of Spatial Price Efficiency in Rural and Urban Markets in Nigeria

Benjamin C. Asogwa, Peter I. Ater, Jacqueline A. Ezihe
Copyright: © 2014 |Pages: 14
ISBN13: 9781466646353|ISBN10: 1466646357|EISBN13: 9781466646360
DOI: 10.4018/978-1-4666-4635-3.ch025
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MLA

Asogwa, Benjamin C., et al. "Analysis of Spatial Price Efficiency in Rural and Urban Markets in Nigeria." Global Strategies in Banking and Finance, edited by Hasan Dinçer and Ümit Hacioğlu, IGI Global, 2014, pp. 380-393. https://doi.org/10.4018/978-1-4666-4635-3.ch025

APA

Asogwa, B. C., Ater, P. I., & Ezihe, J. A. (2014). Analysis of Spatial Price Efficiency in Rural and Urban Markets in Nigeria. In H. Dinçer & Ü. Hacioğlu (Eds.), Global Strategies in Banking and Finance (pp. 380-393). IGI Global. https://doi.org/10.4018/978-1-4666-4635-3.ch025

Chicago

Asogwa, Benjamin C., Peter I. Ater, and Jacqueline A. Ezihe. "Analysis of Spatial Price Efficiency in Rural and Urban Markets in Nigeria." In Global Strategies in Banking and Finance, edited by Hasan Dinçer and Ümit Hacioğlu, 380-393. Hershey, PA: IGI Global, 2014. https://doi.org/10.4018/978-1-4666-4635-3.ch025

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Abstract

The purpose of this chapter is to analyse spatial price efficiency of food products in rural and urban markets in Benue State, Nigeria. A weekly market survey was carried out for 40 weeks in rural and urban markets in Benue State in order to generate data for the study. The study indicated that price association existed between the base (urban) market and the supplying (rural) markets. There was great variability in the prices of food commodities between the base market and the supplying markets. The result of the study also showed that there was a marked price differential between the base market and the supplying markets. Furthermore, interactions between the base market and the supplying markets were characterized by marked imperfections and inefficiency in the marketing system. Price information, including its quality and availability should be enhanced. Storage facilities and other social amenities should be provided for farmers in the rural areas where agricultural activities are predominant.

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