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Climatic Variations and Spatial Price Differentials of Perishable Foods in Nigeria

Lateef Akanni ()

Econometric Research in Finance, 2020, vol. 5, issue 1, 1-15

Abstract: In this study, we attempt to examine the factors that explain the spatial price differentials of selected perishable food crops across Nigerian markets. Based on monthly market prices of onions and tomatoes across different States, we examine the implications of climatic variations, cost of transportation and differences in economic sizes on the price spread of these items. The empirical findings from the dynamic heterogeneous panel regressions show that these factors have significant long-run impacts on the difference in food prices across markets. The results highlight these factors are vital in regional price spreads for agricultural commodities and hence the need for specific policies to reduce the vulnerability of prices to these factors, particularly transfer costs. Policies geared towards improving agriculture value-chain could offer pathways towards mitigating food loss and waste associated with changing climate and transfer costs, and thereby reduction in prices.

Keywords: climatic variations; normalised difference vegetation index; perishable foods; spatial price; panel ARDL (search for similar items in EconPapers)
JEL-codes: C21 C23 Q11 Q54 (search for similar items in EconPapers)
Date: 2020
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