Type | Journal Article - Journal of Business and Management |
Title | Spatial Price Analysis of Paddy Rice in Ebonyi North Zone of Ebonyi State, Nigeria |
Author(s) | |
Volume | 8 |
Issue | 3 |
Publication (Day/Month/Year) | 2013 |
Page numbers | 50-53 |
URL | http://dspace.funai.edu.ng/xmlui/bitstream/handle/123456789/130/Nwibo, Odo, and Igberis2013.pdf?sequence=1&isAllowed=y |
Abstract | The study analysed the spatial price of paddy rice in Ebonyi North Zone of Ebonyi State. Data were collected using structured questionnaires administered on 120 paddy rice marketers purposively selected from the 8 markets locations in four Local Government Areas in the zone. Data collected were analyzed using descriptive and inferential statistical tools such as mean, percentage, frequency, simple regression and factor analysis. The result of the analysis shows that there exists spatiality in the prices of paddy rice in the zone. And that market locations, cost of transportation, availability of storage facilities, density of paddy buyers, market information, market organisation, and individual price fixing are the major factors influencing spatial price of paddy rice. The result equally shows that with the coefficient of multiple determination (R2 ) of 0.768; about 77% in the total variations in the quantity of paddy rice sold was influenced by spatial price in the area. Despite the spatiality of prices in the markets the coefficients of elasticity in each of the market locations were elastic; thus depicting that that in every N1 increase in the price of paddy rice will result into a unit increase in the quantity of paddy rice marketed. Consequent upon the general profitability of paddy rice marketing in the area, the individual Local Government Area market analysis shows that marketing of paddy rice is most profitable in Ohaukwu LGA. Based on the findings, the study recommended the provision of marketing infrastructures such as good roads to enhance easy delivery of paddy to the point of demand. Again, government marketing agency should provide and enforce the use of a standard unit of measure to enhance uniformity in the price of paddy in the area. |
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