Market Delineation Study of the Fish Market in Nigeria: An Application of Cointegration Analysis

Teslim Bada and M.A.Y. Rahji

Journal of Agricultural Science, 2010, vol. 2, issue 3, 158

Abstract: In Nigeria aquaculture has provided an avenue to bridge the ever-widening demand and supply gap in fish. Ituses land resources that would have otherwise been a waste. This paper examined whether Catfish is in the samemarket with Hake, Mackerel and Sadinnela. Unit root tests, Johansen`s bivariate and multivariate co integrationanalyses were carried out. The analyses show that there is co integration among the species.. The hypothesis ofno substitution between Catfish and the imported species was rejected All the species were classified as being inthe same market and are close substitutes. The results indicate that the price of catfish is not insulated from theprices of the imported species. The prices of the imported species are however insulated from the price of thelocal species. Fish production policies designed to alter fish prices without taking into account the foreign pricesare not likely to be effective in Nigeria.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ibn:jasjnl:v:2:y:2010:i:3:p:158

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