Price Trend and Integration of Cowpea Markets in Biu Local Government Area of Borno State, Nigeria
JOURNAL OF AGRICULTURAL ECONOMICS, ENVIRONMENT AND SOCIAL SCIENCES
The study analysed the price trend and integration of prices of cowpea in Biu and Miringa markets of Biu Local Government Areas of Borno State, Nigeria. The specific objectives of the study were to: describe the trend of cowpea price variation between 2016– 2018; determine the degree of variation in the price of cowpea overtime in the study area and analyze integration between the markets. Secondary data were used for the study. Data on monthly prices of 100kg of cowpea for Biu and Miringa
... ts were obtained from Famine Early Warning System Network (FEWSNET) office Biu Branch for the period of three (3) years (2016-2018). Both descriptive and inferential statistics were used to analyse the data. The descriptive statistics used was graphical presentation of the trend of price data. While the inferential statistics used were the unit root test and Engle and Granger co-integration analysis. This study revealed that there were upward and downward trends in prices of cowpea grain in both Biu and Miringa markets for the period of the study. The variations observed in the prices were influenced by time and space. The stationarity test (ADF unit root test) showed that all the price series were non-stationary at levels. On differencing, stationarity was attained indicating that the prices were integrated of order one, which showed co-movement of prices between the two markets. Engle and Granger co-integration tests showed the existence of two co-integration equations. There is a strong need for private organizations and the Government through the producers and marketers of cowpea to provide more and better dissemination of market intelligence and information among the farmers and traders to improve knowledge which would help make the price more stable.