Analysis of determinants of maize price variations in Nigeria (1978 - 2014)
Skyrocketing prices of food staples such as maize can lead to inefficient agricultural production and definitely have detrimental effects on the economic, social, and political growth of any country. Most studies on maize in Nigeria are focused on the increasing consumption or competitiveness, very...
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| Published in: | Croatian journal of food science and technology Vol. 11; no. 2; pp. 237 - 234 |
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| Main Authors: | , , |
| Format: | Journal Article Paper |
| Language: | English |
| Published: |
Prehrambeno-tehnološki fakultet Osijek
29-11-2019
Josip Juraj Strossmayer University of Osijek, Faculty of Food Technology Osijek |
| Subjects: | |
| Online Access: | Get full text |
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| Summary: | Skyrocketing prices of food staples such as maize can lead to inefficient
agricultural production and definitely have detrimental effects on the
economic, social, and political growth of any country. Most studies on maize
in Nigeria are focused on the increasing consumption or competitiveness, very
few address the determinants of maize price change as a panacea for the
increase of productivity. Filling this gap requires a study on the various factors
that contribute to the variations in the price of maize. In this study, secondary
data were used. The study used descriptive statistics tools to analyze the pattern
of price variations and changes in the production of maize over a period of 36
years in Nigeria. Also, various factors affecting price variation of maize were
examined. It was recommended that the positive and significant impact of
country’s population to maize price change should serve as an impulse to
encourage investment in agricultural sector of Nigeria in order to ensure food
security in the country. Also, the government should use the inflation measures
to regulate prices of maize in the country |
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| Bibliography: | 230435 |
| ISSN: | 1847-3466 1848-9923 |
| DOI: | 10.17508/CJFST.2019.11.2.13 |