Determinants of Price Fluctuations on Vegetables and Fruits in Karatina Open Air Market
Journal Title: Scholars Journal of Economics, Business and Management - Year 2017, Vol 4, Issue 9
Abstract
Abstract:This study sought to identify and assess the determinants of price fluctuations on fruits (oranges and avocado) and vegetables (peas and tomatoes) in Karatina Open Air Market. The study presents an analysis of the effects of availability of vegetables and fruits on their prices, the relationship between the quality and freshness of vegetables and fruits and their prices, the effect of product variety price changes on the price of fruits and vegetables and the effects of environmental market conditions on the price of fruits and vegetables. Primary data was used. We present a multiple linear model and a binary logistic model that explain the relationship between the variables. The level of significance employed was 5%. Availability was found to be significant in explaining price fluctuations of Oranges and Tomatoes. It was however found to be insignificant in explaining price fluctuations of Avocadoes and peas. Quality and Freshness was found to be significant in explaining price fluctuations of Avocado, Oranges, Peas and Tomatoes. Change of price in product varieties was found to have no influence on the price of Avocado, Oranges, Peas and Tomatoes. There was no significant difference in the price of a kilogram of Avocadoes and peas in the previous market and in the current market whereas there was a significant difference in the prices of a kilogram of Oranges and Tomatoes in the previous market and in the current market. To further asses the environmental conditions that had influenced the change in price, Garbage collection and Drainage were found to be very significant in explaining the difference in prices of a kilogram of oranges whereas Security of merchandise and Protection from rain and sunshine were found to be significant in explaining the change in prices of a kilogram of Tomatoes between the previous and the current market. The results of this study are highly recommended to traders, consumers and the market management. Keywords:Open air market, vegetable, fruit, Variance inflation factor (VIF), Akaike Information Criterion (AIC).
Authors and Affiliations
Eunice Wacu Mutahi, Peter Kung’u Ngigi
Keywords
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