Authors : A.E. Oguntade and J.A. Folayan
Abstract: This study employs the econometric co-integration technique as analytical tool in an attempt to empirically determine the efficiency of price information transmission between the central market (Ex-Lagos Price) and the source market (Ondo/Ekiti) for cocoa marketing in Nigeria between 1986 and 2003. Secondary data on prices of graded cocoa were collected from the Produce Departments of Ondo and Ekiti States� Ministry of Agriculture and Rural Development as well as from the Central Bank of Nigeria (CBN), Federal office of Statistics (FOS) and International Cocoa Conference Organization (ICCO). The empirical results revealed that based on the parameters of market co-integration, price information on cocoa was found to be fairly adequately transmitted thus indicating that deregulation of the cocoa market has not reduced pricing efficiency in the cocoa markets in the study area.
A.E. Oguntade and J.A. Folayan , 2006. Assessment of Efficiency of Price Information Transmission Between the Central Market and Source Market for Cocoa in South-Western Nigeria a Cointegration Analysis. Agricultural Journal, 1: 198-201.