Market Information and Price Instability : An Insight into Vegetable Markets in Senegal
AbstractMarket gardening has been increasing fast in Senegal. But farmers face high marketing risks: daily price fluctuations exceed an average 20% for some products, seasonality is strong, anticipation based on prices leads to cyclic movements. Farmers and market operators have found various forms of coordination to manage uncertainty. “Coxers” are specifically dedicated to information gathering, either in rural or wholesale urban markets or to transport negotiation. Paid per unit handled, they limit their own risk, whereas they reduce uncertainty for their partners. In other cases, interlinked transactions permit to provide inputs to producers despite the deficient credit market; meanwhile, it secures merchants access to product. As it is the case in many other countries, information provided by MIS is of little help to Senegalese market gardeners. The updated and more targeted access to information through MANOBI services allows producers to improve their negotiation capacity. But it does not modify the existing coordination features, given that they are not only determined by needs in information (but also by social links, access to credit, payment modalities, transport facilities…).
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Bibliographic InfoPaper provided by EconWPA in its series Microeconomics with number 0512005.
Length: 15 pages
Date of creation: 19 Dec 2005
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Note: Type of Document - pdf; pages: 15
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Horticulture; Price analysis; Market instability; Information; Transaction costs;
Find related papers by JEL classification:
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
This paper has been announced in the following NEP Reports:
- NEP-AFR-2006-01-01 (Africa)
- NEP-AGR-2006-01-01 (Agricultural Economics)
- NEP-ALL-2006-01-01 (All new papers)
- NEP-FMK-2006-01-01 (Financial Markets)
- NEP-KNM-2006-01-01 (Knowledge Management & Knowledge Economy)
- NEP-MKT-2006-01-01 (Marketing)
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