The study evaluates consumers’ behaviour on retail price of rice in Imo State of
Nigeria. Data were drawn from the three agricultural zones in Imo State, namely
Owerri, Orlu and Okigwe. A functional market in each zone was randomly selected.
A multi stage sampling technique was used for the study. Primary data were
obtained by means of interview schedule (questionnaire) administered to consumers
of rice at retail shops. Data were analyzed using descriptive techniques and ordinary
least square (OLS) method of multiple regression analysis. Empirical result reveals
that the mean weekly budget share for rice was N1345.20 but the actual weekly
expenditure was N1638.89. The differential of 21.8% increases in expenditure from
the budget share of rice could be attributed to variability in prices of rice in the
market. About 63.3% of rice consumers have a weak bargaining index of 0.67
indicating that consumers’ influence on the food product is weak. It could be deduced
from the result that quantity demanded of rice (Qty) has negative relationship with
its own price but consumers’ bargaining power has a positive effect on price. There is
need for consumers to be encouraged to form co – operative societies through which
they can buy food products in bulk to reduce retail price thereby reducing the price
margin between their budget share and actual expenditure in view of the fact that
their bargaining power is weak. This will also reposition them to play a key role in
price formation and sharing market information in order to increase their bargaining
power as majority of retailers are only interested in profit maximization to the
detriment of consumers. Consumers of rice should be ready to make adjustment on
their weekly budgets of rice because of price variability.
EMEKA EMMANUEL, O., , E , U1., E , , E , L1, J & Maduike, O (2018). Evaluation of Consumer behaviour on Retail Prices of Rice in Imo State. Afribary. Retrieved from https://track.afribary.com/works/evaluation-of-consumer-behaviour-on-retail-prices-of-rice-in-imo-state
EMEKA EMMANUEL, OSUJI, et. al. "Evaluation of Consumer behaviour on Retail Prices of Rice in Imo State" Afribary. Afribary, 05 Apr. 2018, https://track.afribary.com/works/evaluation-of-consumer-behaviour-on-retail-prices-of-rice-in-imo-state. Accessed 14 Nov. 2024.
EMEKA EMMANUEL, OSUJI, EzeEze , E. U1. , Effiong , J. L1 and Osuji Maduike . "Evaluation of Consumer behaviour on Retail Prices of Rice in Imo State". Afribary, Afribary, 05 Apr. 2018. Web. 14 Nov. 2024. < https://track.afribary.com/works/evaluation-of-consumer-behaviour-on-retail-prices-of-rice-in-imo-state >.
EMEKA EMMANUEL, OSUJI, EzeEze , E. U1. , Effiong , J. L1 and Osuji Maduike . "Evaluation of Consumer behaviour on Retail Prices of Rice in Imo State" Afribary (2018). Accessed November 14, 2024. https://track.afribary.com/works/evaluation-of-consumer-behaviour-on-retail-prices-of-rice-in-imo-state