Growth and Instability Analysis of Groundnut Price of Major Markets in Saurashtra Region of Gujarat State

Abstract

The present study was carried out by using time series data of price from 1998 to 2018, to compare the price variation, to measure the price instability of major domestic groundnut markets of Saurashtra region of Gujarat state i.e. Rajkot, Junagadh, Amreli and Gondal. Data were collected from the registers maintained in the respective Agricultural Produce Market Committees (APMCs). The price variation had been compared by using descriptive statistics in which Range and standard deviation indicated wide variation in the price level of all the markets as well as markets have positively skewed (γ₁ > 0) and mesokurtic (β₂ ~ 0) distribution. The price instability based on trend model was measured. Fitting of trend model is done by regressing the variable under consideration on chronological time period. Estimates of fitted cubic trend model for all the markets were significant. Higher instability was observed for Gondal market.