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A study of price integration of bengalgram markets in India

Author

Listed:
  • Srikala, M.
  • Subramanyam, V.
  • Ananda, T.
  • Venkatesu, M.

Abstract

This paper tests market co-integration of bengalgram in major markets of India. Based on the volume of transactions and the availability of data for bengalgram, five markets viz., Kurnool (Andhra Pradesh), Shujalpur (Madhya Pradesh), Bidar (Karnataka), Akola (Maharastra) and Bikaner (Rajasthan) were selected for the study. The monthly modal prices of bengalgram for the period from April 2003 to August 2015 were collected from the respective market committees. The econometric tools like ADF test, Johansen's multiple co-integration test, Granger Causality test and Vector Error Correction Model were used to analyse integration of markets across locations. Kurnool and Bidar markets came to short-run equilibrium as indicated by the level of significance. The analysis revealed that any disturbance in price would get corrected around two days in Kurnool market and less than one day (0.6) in Bidar market. In long-run, Shujalpur market prices were influenced by its own one month lag and also influenced Bikaner and Bidar market price in one month lag. There was bidirectional influence on bengalgram prices of Kurnool and Shujalpur, Bidar and Shujalpur, Akola and Shujalpur, Bidar and Bikaner. Bikaner bengalgram price showed unidirectional causality with Shujalpur, Kurnool and Akola market prices. Bidar market prices showed unidirectional causality with Akola and Kurnool market prices. Akola market prices showed unidirectional causality with Bikaner. Kurnool market prices showed unidirectional causality with Akola.

Suggested Citation

  • Srikala, M. & Subramanyam, V. & Ananda, T. & Venkatesu, M., 2015. "A study of price integration of bengalgram markets in India," Indian Journal of Agricultural Marketing, Indian Society of Agricultural Marketing, vol. 29(2).
    • Handle: RePEc:ags:injagm:399533
    DOI: 10.22004/ag.econ.399533
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