Spatial Market Integration and Price Information Flow in Nigeria Markets: The case of Yam

Abstract

Price information cum transmission dynamics are driving factors in marketintegration mechanism.The role of price in transaction decisions is cogentwith sustainability of agricultural activities hinged on systemeffectiveness.Nation targeting food security must have good grasp onfunctional food commodity pricing system.We designed the study to answerquestions on market integration, explore existing relationship and marketprice responsiveness.Price collected over 52weeks from 24 markets wereanalysed.Markets were highly integrated however with highest prices indeficit zones. With each market generating information from others bycontemporaneous periods, markets clearly had superior price informationflow. Commodity association membership, linkage of traders-farm gates,active price seeking behaviours and improved Infrastructure arerecommended to enhance market integration, serve price stabilizationpurpose and promote food affordability.