Interactions Between Food Market Reform and Regional Trade in Zimbabwe and South Africa: Implications for Food Security

Jayne, Thomas S.; Takavarasha, Tobias; Zÿl, Johan van

doi:10.1080/03031853.1994.9524783

Cited by 3 publications

(2 citation statements)

References 26 publications

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“…The processing of maize into meal produces by-products that are sold to agro-industries as an input to animal feed and cooking oil. Therefore the formula used to estimate the wholesale-to-retail maize margin, following Jayne et al (1994) is:…”

Section: Maize Prices and Milling/retail Margin (Mm)mentioning

confidence: 99%

The effects of price deregulation on maize marketing margins in South Africa

Traub

Jayne

2008

Food Policy

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Section: Maize Prices and Milling/retail Margin (Mm)mentioning

confidence: 99%

The effects of price deregulation on maize marketing margins in South Africa

Traub

Jayne

2008

Food Policy

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“…Markets that are not integrated may convey inaccurate price signals that might lead to inefficient product movements. Markets may be linked through the competitive profit-seeking activities of arbitragers (Jayne, Takavarasha & Johan van Zyl, 1994;Goodwin & Schroeder, 1991), and an integrated market is one in which arbitrage works well by ensuring that a unique equilibrium is reached when local prices in alternative markets differ by no more than transaction cost.…”

Section: Introductionmentioning

confidence: 99%

Sorghum market integration study in Ghana

Quaye¹,

Ameleke²

2009

Ghana Journal of Agricultural Science

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The study sought to examine the variability and trends in sorghum supply and prices, factors affecting volumes of sorghum traded, and whether the sorghum market was integrated. To achieve the set objectives, primary and secondary data were used. A random sample size of 160 respondents, including 20 per cent sorghum grain itinerant traders, 43 per cent wholesalers, 17 per cent retailers, and 20 per cent consumers were interviewed in selected markets in Northern and Brong Ahafo regions in Ghana. These markets were selected by production and utilization levels, and accessibility as well as potential for sorghum market expansion. Monthly observations over the period 1990-1999 on sorghum prices at the wholesale level for the selected markets were used for the market integration analysis. The study adopted various analytical approaches, including the basic Ravallion model with some modifications and the Error Correction model, to test for sorghum market integration. The study showed that the actual marketing of sorghum was organized by many individual private traders with no barrier to market entry. Factors affecting volumes of sorghum traded are variable and location-specific. These factors include transportation difficulties, limited supply, inadequate capital, lack of finance, number of sellers and buyers, risk of price changes, and quality deterioration. The study established lack of short-run integration in 75 per cent of the sorghum market pairs studied. The price adjustment mechanism between local market and reference market was relatively slow, but markets were integrated in the long run. This could be attributed to lack of an adequate market information system at the rural markets, and possibly transportation difficulties. It was recommended that the efficiency of the sorghum marketing system needed to be improved by strengthening the market information system. Original scientific paper.

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