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Analysis of Palm Oil Prices in Ini Local Government Area of Akwa Ibom State, Nigeria

Author

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  • Tiku, N.E.
  • Uduak, O.O.
  • Ini-mfon, V.P.

Abstract

The aim of this study was to analyze palm oil prices in Ini Local Government Area of Akwa Ibom State, Nigeria. Palm oil is a major agricultural commodity that is highly commercialized in the Nigeria and has suffered various economic impacts cardinally is the price volatility. In consideration of palm oil price stability, trend analysis, seasonality, cyclical and irregular elements of price volatility were determined. Data were obtained through structured questionnaires administered to 160 randomly selected palm oil marketers. The time series model, measurement of instability factor and index of dynamic price analysis were used. The result revealed that the instability factor was 0.097% and index dynamic price was 58.49%, which shows that palm oil prices were relatively stable during the time of study. The study concluded that there was no incentive to store palm oil as prices are relatively constant over time. Therefore, the study recommended that the marketers should not store palm oil for future sales rather marketers should speculate palm oil trading through prices differential by geographical market locations and not by time difference.

Suggested Citation

  • Tiku, N.E. & Uduak, O.O. & Ini-mfon, V.P., 2013. "Analysis of Palm Oil Prices in Ini Local Government Area of Akwa Ibom State, Nigeria," 2013 Fourth International Conference, September 22-25, 2013, Hammamet, Tunisia 161517, African Association of Agricultural Economists (AAAE).
  • Handle: RePEc:ags:aaae13:161517
    DOI: 10.22004/ag.econ.161517
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    Keywords

    Agribusiness; Demand and Price Analysis;

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