Efficiency of Selected Sudanese Sheep Markets: A Multivariate Approach (1995-2011)Mohamed Bushara OA1* and Murtada KA Abdelmahmod2
- *Corresponding Author:
- Bushara MOA
Faculty of Agricultural Sciences
University of Gezira
Wad Medani, Sudan
E-mail: [email protected]
Received date: October 30, 2016; Accepted date: November 11, 2016; Published date: November 16, 2016
Citation: Mohamed Bushara OA, Abdelmahmod MKA (2016) Efficiency of Selected Sudanese Sheep Markets: A Multivariate Approach (1995-2011). Int J Econ Manag Sci 6:389. doi: 10.4172/2162-6359.1000389
Copyright: © 2016 Mohamed Bushara OA, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
The main objective of this study is to investigate price movements among important sheep markets in the Sudan to explore their pricing efficiency. The short period of long-run equilibrium adjustment indicated that there are strong price linkages between Omdurman and other four markets (Elobied, Medani, Sennar and Nyala markets). The prices causality indicated unidirectional relation causality of Nyala market through Medani and Elobied markets. Nyala markets as terminal market located in production area Granger cause Medani and Omdurman as major consumption markets; this was taken as evidence that price movements were primarily driven by supply shocks. That mean the system was centred on Nyala i.e. Nyala could be considered as a supply market in sheep market which means the prices were supply driven.