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Indian Journal of Pure & Applied Biosciences (IJPAB)
Year : 2021, Volume : 9, Issue : 1
First page : (311) Last page : (315)
Article doi: : http://dx.doi.org/10.18782/2582-2845.8538

Market Integration and Price Volatility of Maize in Maharashtra

A.S. Tingre^1* and A.A. Bhopale^2
1Associate Professor, ²Assistant Professor,
Department of Agricultural Economics & Statistics,
Dr. Panjabrao Deshmukh Krishi Vidyapeeth, Akola (Maharashtra) – 444104
*Corresponding Author E-mail: anandtingre@gmail.com
Received: 15.12.2020 | Revised: 17.01.2021 | Accepted: 22.01.2021 

 ABSTRACT

The present study aimed to study price movement of Maize i.e. seasonal and cyclical variations, price volatility and co-integration among the selected Maize markets of Maharashtra. For study purpose the data related to monthly average prices of Maize were collected for major APMC markets of Maharashtra viz. Nashik, Sangli, Jalna and Dhule for the period 2004-2015. The econometric tools like ADF test, Johansen’s Multiple Co-integration test, Granger Causality Test and ARCH-GARCH model were used to study price volatility and co-integration among different markets. The results of study showed that the prices of Maize were higher from the month of June to September except Sangli market in which prices were higher from June to October. The cyclical variations observed in the prices of Maize in the selected markets.The higher prices were recorded during the year 2004, 2012 and 2013 in all selected markets.Maize prices series of all selected markets were stationary at level. The selected markets showed long run equilibrium relationship and co-integration between them. Most of the markets showed bidirectional Causality and influences the prices of each other. The volatility shocks in Maize prices are persistent in selected markets.

Keywords: ADF test, ARCH- GARCH, Co-integration, Granger Causality Test, Price volatility.

Full Text : PDF; Journal doi : http://dx.doi.org/10.18782

Cite this article: Tingre, A. S., & Bhopale, A. A. (2021). Market Integration and Price Volatility of Maize in Maharashtra, Ind. J. Pure App. Biosci. 9(1), 311-315. doi: http://dx.doi.org/10.18782/2582-2845.8538