PRICE VARIATION AND MOVEMENT OF Halea ciliata SPECIES OF LUMBER IN DELTA STATE, NIGERIA

Abstract

The study examined the intensity of price movement and trend analysis of selected volumes (0.013m³, 0.019m³ and 0.025m³) of Halea ciliata in urban and local lumber markets in Delta State of Nigeria. Monthly sales records of Halea ciliata species of lumber (2010-2019) were taken from sales receipt and were analyzed using econometric analysis. Results showed that prices of Halea ciliata species of lumber and the volumes considered were non-stationery in their level forms but were stationary at first difference (P≤0.01 and P≤0.05). The indices of market concentration were less than one suggesting elevated level of short run market integration. Co-integration test showed that a long run stable relation exist between prices in local and urban markets while the Error correction mechanism reflect that the extent of price movement is relatively fast. The study concluded that lumber market for Halea ciliata is integrated and operated efficiently. It was recommended that intensive forest restoration be embarked upon for continuous supply of lumber to sellers.