COVID-19 and prices of pulses in Major markets of India: Impact of nationwide lockdown

Ranjit Kumar Paul and Md Yeasin

PLOS ONE, 2022, vol. 17, issue 8, 1-16

Abstract: The COVID-19 pandemic has impacted almost all the sectors including agriculture in the country. The present paper investigates the impact of COVID-19 induced lockdown on both wholesale and retail prices of major pulses in India. The daily wholesale and retail price data on five major pulses namely Lentil, Moong, Arhar, Urad and Gram are collected for five major markets in India namely Delhi, Mumbai, Kolkata, Chennai and Hyderabad during the period January, 2019 to September, 2020 from Ministry of Consumer Affairs, Food & Public Distribution, Government of India. The Government of India declared nationwide lockdown since March, 24, to May, 31, 2020 in different phases in order to restrict the spread of the infection due to COVID-19. To see the impact of lockdown on price and price volatility, time series model namely Autoregressive integrated moving average (ARIMA) model with error following Generalized autoregressive conditional heteroscedastic (GARCH) model incorporating exogenous variable as lockdown dummy in both mean as well variance equations. It is observed that in almost all the markets, lockdown has significant impact on price of the pulses whereas in few cases, it has significant impact on price volatility.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0272999

DOI: 10.1371/journal.pone.0272999

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