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A model for the palm oil market in Nigeria: an econometrics approach

The aim of this study is to formulate and estimate a model for the palm oil market in Nigeria with a view to identifying principal factors that shape the Nigerian palm oil industry. Four structural equation models comprising palm oil production, import demand, domestic demand and producer price have...

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Main Authors: Egwuma, Henry, Shamsudin, Mad Nasir, Mohamed, Zainal Abidin, Kamarulzaman, Nitty Hirawaty, Wong, Kelly Kai Seng
Format: Article
Language:English
Published: IJFAEC 2016
Online Access:http://psasir.upm.edu.my/id/eprint/56427/1/A%20model%20for%20the%20palm%20oil%20market%20in%20Nigeria%20an%20econometrics%20approach.pdf
http://psasir.upm.edu.my/id/eprint/56427/
http://www.foodandagriculturejournal.com/page21.html
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spelling my.upm.eprints.564272017-07-31T09:51:11Z http://psasir.upm.edu.my/id/eprint/56427/ A model for the palm oil market in Nigeria: an econometrics approach Egwuma, Henry Shamsudin, Mad Nasir Mohamed, Zainal Abidin Kamarulzaman, Nitty Hirawaty Wong, Kelly Kai Seng The aim of this study is to formulate and estimate a model for the palm oil market in Nigeria with a view to identifying principal factors that shape the Nigerian palm oil industry. Four structural equation models comprising palm oil production, import demand, domestic demand and producer price have been estimated using the autoregressive distributed lag (ARDL) cointegration approach over the 1970 to 2011 period. The results reveal that significant factors that influence the Nigerian palm oil industry include the own price, technological improvements, and income level. Government expenditure on agricultural development is also an important determinant, which underscores the need for government support in agriculture. Our model provides a useful framework for analyzing the effects of changes in major exogenous variables such as income or import tariff on the production, demand, and price of palm oil. IJFAEC 2016 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/56427/1/A%20model%20for%20the%20palm%20oil%20market%20in%20Nigeria%20an%20econometrics%20approach.pdf Egwuma, Henry and Shamsudin, Mad Nasir and Mohamed, Zainal Abidin and Kamarulzaman, Nitty Hirawaty and Wong, Kelly Kai Seng (2016) A model for the palm oil market in Nigeria: an econometrics approach. International Journal of Food and Agricultural Economics, 4 (2). pp. 69-85. ISSN 2147-8988; ESSN: 2149-3766 http://www.foodandagriculturejournal.com/page21.html
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description The aim of this study is to formulate and estimate a model for the palm oil market in Nigeria with a view to identifying principal factors that shape the Nigerian palm oil industry. Four structural equation models comprising palm oil production, import demand, domestic demand and producer price have been estimated using the autoregressive distributed lag (ARDL) cointegration approach over the 1970 to 2011 period. The results reveal that significant factors that influence the Nigerian palm oil industry include the own price, technological improvements, and income level. Government expenditure on agricultural development is also an important determinant, which underscores the need for government support in agriculture. Our model provides a useful framework for analyzing the effects of changes in major exogenous variables such as income or import tariff on the production, demand, and price of palm oil.
format Article
author Egwuma, Henry
Shamsudin, Mad Nasir
Mohamed, Zainal Abidin
Kamarulzaman, Nitty Hirawaty
Wong, Kelly Kai Seng
spellingShingle Egwuma, Henry
Shamsudin, Mad Nasir
Mohamed, Zainal Abidin
Kamarulzaman, Nitty Hirawaty
Wong, Kelly Kai Seng
A model for the palm oil market in Nigeria: an econometrics approach
author_facet Egwuma, Henry
Shamsudin, Mad Nasir
Mohamed, Zainal Abidin
Kamarulzaman, Nitty Hirawaty
Wong, Kelly Kai Seng
author_sort Egwuma, Henry
title A model for the palm oil market in Nigeria: an econometrics approach
title_short A model for the palm oil market in Nigeria: an econometrics approach
title_full A model for the palm oil market in Nigeria: an econometrics approach
title_fullStr A model for the palm oil market in Nigeria: an econometrics approach
title_full_unstemmed A model for the palm oil market in Nigeria: an econometrics approach
title_sort model for the palm oil market in nigeria: an econometrics approach
publisher IJFAEC
publishDate 2016
url http://psasir.upm.edu.my/id/eprint/56427/1/A%20model%20for%20the%20palm%20oil%20market%20in%20Nigeria%20an%20econometrics%20approach.pdf
http://psasir.upm.edu.my/id/eprint/56427/
http://www.foodandagriculturejournal.com/page21.html
_version_ 1643836187151958016
score 13.211869

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