Ama chey, Ch is ina An wiago; Kwakwa, Paul Adjei
A icle
Spa ial ma ke in eg a ion analysis o plan ain ma ke s in
mid Ghana
Cogen Business & Managemen
P o ided in Coope a ion wi h:
Taylo & F ancis G oup
Sugges ed Ci a ion: Ama chey, Ch is ina An wiago; Kwakwa, Paul Adjei (2024) : Spa ial ma ke
in eg a ion analysis o plan ain ma ke s in mid Ghana, Cogen Business & Managemen , ISSN
2331-1975, Taylo & F ancis, Abingdon, Vol. 11, Iss. 1, pp. 1-18,
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Spa ial ma ke in eg a ion analysis o plan ain
ma ke s in mid Ghana
Ch is ina An wiago Ama chey & Paul Adjei Kwakwa
To ci e his a icle: Ch is ina An wiago Ama chey & Paul Adjei Kwakwa (2024) Spa ial ma ke
in eg a ion analysis o plan ain ma ke s in mid Ghana, Cogen Business & Managemen , 11:1,
2311222, DOI: 10.1080/23311975.2024.2311222
To link o his a icle: h ps://doi.o g/10.1080/23311975.2024.2311222
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Cogen Business & ManageMen
2024, VoL. 11, no. 1 , 2311222
Spa ial ma ke in eg a ion analysis o plan ain ma ke s in mid
Ghana
ch is ina an wiago ama cheya and Paul adjei kwakwab
aFacul y o De elopmen s udies, P esby e ian uni e si y, ghana; bschool o a s and social sciences, uni e si y o ene gy
and na u al Resou ces, sunyani ghana
ABSTRACT
he pape es ima es he deg ee o in eg a ion o plan ain p ices in h ee selec ed
ma ke s o assess he e iciency o he plan ain ma ke ing sys em in mid ghana. he
selec ed ma ke s a e echiman in Bono eas egion, kenyasi and Duayaw nkwan a
ma ke s bo h in aha o egion o ghana. he spa ial ma ke in eg a ion analysis was
done using he e o co ec ion model on mon hly wholesale eal p ices in ghana cedis
(gH¢) pe 9–11 kg bunch o plan ain om 2006 o 2015. he indings o he analysis
indica e ha he plan ain ma ke s a e weakly in eg a ed spa ially wi h an o e all deg ee
o in eg a ion o 17 pe cen which sugges s weak ma ke e iciency. he e o e,
s eng hening he implemen a ion o go e nmen policy on ma ke in o ma ion,
especially in p oducing a eas, will be use ul in imp o ing plan ain ma ke e iciency.
IMPACT STATEMENT
Plan ain’s ole as a sou ce o ood and income among ghanaian households canno be
o e emphasized. Howe e , like i is wi h many a ican coun ies, ine iciency in ma ke ing
he p oduc is p e alen in he coun y. he e a e many ma ke ing p oblems ha
smallholde a me s encoun e which de e mine how a plan ain p oduc ion can be
expanded. a ious e o s ha e been made by go e nmen s o add ess he ma ke ing
si ua ion o s aple ood c ops, in gene al, bu hey appea o be inadequa e. Ye , ma ke ing
o plan ain has no ecei ed as much a en ion as is gi en o i s p oduc ion. his s udy
asce ains he e iciency o he plan ain ma ke ing sys em in mid ghana by es ima ing
he ex en o spa ial in eg a ion o plan ain ma ke s in he a ea. analysis showed ha
he e exis s bo h long- un and sho - un ma ke in eg a ion among plan ain ma ke s in
mid ghana, albei weak in each case. Sugges ions o imp o e si ua ions a e p o ided.
1. In oduc ion
he ecen sha p inc eases o nea ly 52 pe cen o e and abo e 2019 le els in global ood p ices, d i en
by he global pandemic and sho ages caused by he wa in Uk aine (Okou e al., 2022), b ough in o
ocus once again he impo ance o ood p ices. Food p ices o ganise p oduc ion and help in he dis i-
bu ion o ood p oduce and se ices, and p o ide o economic g ow h (Seab igh , 2010). in essence,
ood p ices in luence he p oduc ion, consump ion and ma ke ing decisions o bo h a me s and con-
sume s o e ime, o m, and space by egula ing he quan i y a ailable and consumed (lohano & Ma i,
2012). in his wise, Meckes e al. (2020) a gue ha ood p ices communica e in o ma ion o a me s o
p o ide mo e o less o ood p oduce, se ice o quali a i e ea u e o he ood p oduce, especially
h ough p ice incen i es and disincen i es. Mo eo e , ood p ices p o ide income o a me s as p ices
b ing ou he alue ha he p oduce o se ice dese es and he e o e secu e he p o i s needed by
a me s o in es o g ow h (g zego zek, 2023; Meckes e al., 2020).
in he case o consume s, Seab igh (2010) indica es ha ood p ices o e he oppo uni y o ha e access
and owne ship o ood p oduce in he sense ha once he p ice is paid, owne ship is ans e ed. his
© 2024 he au ho (s). Published by in o ma uK Limi ed, ading as aylo & F ancis g oup
CONTACT Paul adjei Kwakwa [email protected] school o a s and social sciences uni e si y o ene gy and na u al Resou ces,
sunyani ghana
h ps://doi.o g/10.1080/23311975.2024.2311222
his is an open access a icle dis ibu ed unde he e ms o he C ea i e Commons a ibu ion License (h p://c ea i ecommons.o g/licenses/by/4.0/), which
pe mi s un es ic ed use, dis ibu ion, and ep oduc ion in any medium, p o ided he o iginal wo k is p ope ly ci ed. he e ms on which his a icle has been
published allow he pos ing o he accep ed Manusc ip in a eposi o y by he au ho (s) o wi h hei consen .
ARTICLE HISTORY
ecei ed 10 Ma ch 2023
e ised 27 Decembe 2023
accep ed 24 Janua y 2024
KEYWORDS
e iciency; e o co ec ion
model; ghana; ma ke
in eg a ion; plan ain
REVIEWING EDITOR
ki hsi i H a hula, iic
Uni e si y o echnology,
S i lanka
SUBJECTS
De elopmen S udies;
Finance; Business;
Managemen and
accoun ing
2 c. an wiagO aMa cHeY anD P. a. kwakwa
becomes pa icula ly impo an o poo households who spend la ge po ions o hei incomes on ood
consump ion and many poo a me s who a e mos ly ne buye s o s aple ood (Unsal e al., 2020). none heless,
ood p ices do no emain s a ic bu changes occu in ma ke s because supply and demand change o e ime
which gene a e co esponding esponses om a me s, ade s and consume s ( an nieke k, 2020). an
nieke k (2020) u he a gues ha p icing in luences ma ke pe o mance h ough p o iding signals o p ice
di e en ials among ma ke s ha cause ade s o mo e ood p oduce o ma ke s o highe p ices o imp o ed
e iciency1 o he ma ke . a well-in eg a ed ma ke he e o e allows o e icien mo emen o ade low ha
s abilises ma ke p ices and educes he p ice isk (Okou e al., 2022; oman & Žáko á k oupo á, 2022).
Ma ke e iciency is impo an in ood p oduce ma ke ing because i o ms he basis on which a me s
espond wi h ood p oduc ion and ma ke ed su plus (alam & Begum, 2007). e icien mo emen o ood
p oduce om he a m o consume s can p oduce bene i s o bo h a me s and consume s (landes &
Bu ishe , 2009). i has he po en ial o educe po e y as well as consume ood p ices and p omo e
p i a e consump ion, especially by low-income households (Diao e al., 2010; Okou e al., 2022). wongnaa
e al. (2014) as well as an assel e al. (2018) hus asse ha e icien ood p oduce ma ke ing sys em
is necessa y o incen i ise p oduc ion, en e p ise and specialisa ion a he a m household le el o
imp o ed p oduc i i y o all sec o s o he economy. in analysing he e iciency o ag icul u al ma ke s,
economis s ag ee heo e ically ha ma ke condi ions such as in o ma ion symme y enable ma ke s o
ge close o eaching economic e iciency de ined by compe i i e condi ions (an oine e al., 2021; De con,
2003; e celli, 2003). in line wi h ag icul u al ma ke ing heo y, i has been iden i ied ha e iciency o
ma ke s depends, among o he hings, on he numbe o ade s, he le el o compe i ion among hem
and on he amoun and cos s o in o ma ion a hei disposal (Fede ico, 2007; Mensah-Bonsu e al., 2017).
imp o ing he e icien unc ioning o ag icul u al ma ke s, pa icula ly o ood p oduce, has become
impe a i e since i seems o hold he missing link o he an icipa ed ag icul u al ans o ma ion in
many de eloping coun ies (ayoo, 2022; Bye lee e al., 2005; Poul on e al., 2006). i is expec ed ha i
he ood p oduce ma ke ing sys em is e icien i could se e he emo es pa s o ood p oducing
a eas and gi e smallholde a me s he incen i e o p oduce mo e and he eby engende ing po e y
educ ion and de elopmen . Mo e especially, a eas p oducing he bulk o ood p oduce such as plan ain
in mid ghana wi h a la ge numbe o smallholde a me s whose li ing condi ions could be impac ed
posi i ely by e icien ood p oduce ma ke ing sys em may need a en ion.
he mid ghana a ea, co e ing aha o, Bono and Bono eas egions, is ecognized as a la ge p oducing
a ea o plan ain (Musa pa adisiaca) in ghana (MoFa, 2016). ghana is he la ges p oduce o plan ains in
wes a ica and he second-la ges in he wo ld a e came oon (amaya, 2018). Plan ain is he hi d mos
impo an s aple ood c op in ghana by p oduc ion, behind cassa a and yam. abou 8,348,865 ha o land
a ea is used o cul i a e i (Mensah-Bonsu e al., 2017). he ashan i, eas e n, aha o, Bono, Bono eas ,
wes e n no h, wes e n, cen al, O i and ol a egions, a e designa ed as plan ain p oducing egions
om which a eas ghana p oduced 4.72 million onnes o plan ain in 2021(knoema, 2022). abou 95
pe cen o he p oduc ion is sold on he local ma ke and he es is expo ed (Mensah-Bonsu e al.,
2017) o such coun ies as Senegal, Uk, F ance, Spain, Belgium, i aly and he czech epublic (ag igold
Magazine, 2022). hus, plan ain has signi ican socio-economic impo ance o mo e han wo- hi ds o
households in he a ea who a e engaged in i (gSS, 2013) and in ghana, as a whole, as a p ima y sou ce
o ood and income. while he mid ghana a ea has ai ly e enly dis ibu ed sui able ege a ional zones
and soils ha suppo he p oduc ion o plan ains, he e a e some dis ic s ha make signi ican con i-
bu ions o he p oduc ion o he c op in he a ea. hese include echiman Municipali y, asu i i Sou h and
ano no h Dis ic s whe e he issues o plan ain ma ke ing and he a endan low p oduc ion and po -
e y among plan ain a me s a e a majo conce n o ghana. Food p oduce ma ke ing in ghana and
many a ican coun ies appea o be unde -de eloped and ine icien (coul e & Onumah, 2002; Olumba
& Onunka, 2020). i is obse ed in mos a ican coun ies ha ag icul u al g ow h has been slow, la gely
due o he ine icien ood p oduce ma ke ing sys ems (Bjo nlund e al., 2020; ngeleza & obinson, 2011).
codjoe (2007) also no es ha ood p oduc ion in ghana has pe o med poo ly and a ibu es his pa ly
o a lack o ma ke ing incen i es o smallholde ood c op a me s.
a numbe o s udies on ood p oduce ma ke s sugges he ac o s ha con ibu e o hei seemingly ine -
icien and poo ma ke in eg a ion. Diao e al. (2003) classi y some as demand-side cons ain s, such as s ag-
nan o limi ed demand o addi ional p oduce om domes ic and egional consume s. con e sely, p oduc ion
cOgen BUSineSS & ManageMen 3
o supply-side cons ain s iden i ied include luc ua ing ha es s om nume ous dispe sed smallholde a me s
who ely on ain- ed p oduc ion echnology; poo ma ke ing in as uc u e and high ansac ion cos s2
(eas e ling e al., 2008; Onumah e al., 2007; Onyuma e al., 2006). High ansac ion cos s may be expe ienced
by bo h a me s and ade s in he plan ain ma ke ing sys em. he high ansac ion cos s may be a esul o
he cos o assembling he p oduce om nume ous and sca e ed smallholde plan ain a me s wi h poo u al
anspo in as uc u e (geb e e al., 2022; Po e e al., 2007). consequen ly, seasonal glu s o plan ains and
o he highly pe ishable p oduce combined wi h limi ed s o age acili ies a e a common occu ence (a iyie
e al., 2023; ngeleza & obinson, 2011; Yeshiwas & adele, 2021).
O he causes o high ansac ion cos s ha may be iden i ied include in o ma ion asymme y (an oine
e al., 2021; coul e & Onumah, 2002; Muli & Muli, 2019) and a lack o s anda disa ion p ac ices such as g ad-
ing and so ing (Se a-Dedeh, 2009; Se e ine e al., 2014). Saha a e al. (2013) sugges ha poo ela ionship
quali y may esul in he si ua ion whe e a me s and ade s do no sha e in o ma ion and coo dina e supply
and demand o educe ansac ion cos s. his implies ha one o he assump ions necessa y o pe ec com-
pe i ion in neolibe al heo y, which is pe ec in o ma ion may no be sa is ied and he ma ke may be
ega ded as ine icien . he ma ginal o s agnan g ow h end in he p oduc ion o some ood c ops, pa ic-
ula ly he mo e pe ishable ones such as plan ain, in ecen pas is epo ed in some egions in mid ghana as
well. Mensah-Bonsu e al. (2017) main ain ha he ma ke ing p oblems ha smallholde a me s encoun e
de e mine how a plan ain p oduc ion can be expanded. Howe e , ma ke ing o plan ain has no ecei ed as
much a en ion as is gi en o i s p oduc ion and he e o e he plan ain sec o is aced wi h many ma ke ing
p oblems (Mensah-Bonsu e al., 2017). he key ma ke ing p oblems a e low p ice o he p oduce and he ac
ha buye s dic a e he p ice (Dzomeku e al., 2011). Subsequen ly, a ious e o s ha e been made by go -
e nmen s o add ess he ma ke ing si ua ion o s aple ood c ops, in gene al, bu hey appea o be inade-
qua e (geb e e al., 2022). e en hough his calls o empi ical s udies o in o m policy owa ds imp o ing he
plan ain ma ke ing sys em, i has been obse ed ha no many s udies ha e been conduc ed in his a ea.
he objec i e o he s udy is he e o e o assess he e iciency o he plan ain ma ke ing sys em in
mid ghana by es ima ing he ex en o spa ial in eg a ion o plan ain ma ke s in he a ea. he es o
he pape is made up o he heo e ical and concep ual discussions and he me hodology ha unde -
pinned he s udy. hese a e ollowed by he discussion o he esul s o empi ical e idence. he pape
ends wi h conclusions and discussions o he policy implica ions.
2.Theo e ical and concep ual issues
o he ex en ha neolibe al de elopmen heo y has had a huge in luence on de elopmen policies o
de eloping coun ies and in e na ional ins i u ions since he 1980s, he heo y becomes impo an in he
s udy o e iciency o plan ain ma ke ing. in pa icula , as a gued by Schydlowsky (1995) and Shipp
(2020), s uc u al adjus men p og ammes which eme ged om neolibe al heo y has become he o ho-
dox economic policy in de eloping coun ies and has a ec ed he choice o ag icul u al s a egies o
de eloping coun ies. hus, he heo y has ans o med he ela ionships be ween he s a e and he
ma ke in u al economies (P i cha d, 2005; Shipp, 2020; ho sen, 2009). neolibe al heo y posi s ha
unde de elopmen is caused by poo esou ce alloca ion as a esul o inco ec p icing policies and oo
much s a e in e en ion (Onis & Senses, 2005). hus, ‘ge ing he p ices igh ’ has been he key ene o
neolibe al heo y by which i is belie ed economic de elopmen will be achie ed as he powe o ma ke
o ces is allowed o ope a e and he s a e is cu ailed (ga wi i e al., 2020; Hamm e al., 2012).
Meanwhile, e celli (2003) and Hayes (2023) a gue ha o a ma ke o ensu e he op imal alloca ion o
esou ces among al e na i e uses, he assump ions o a pe ec ly compe i i e ma ke mus be ul illed.
Hayes (2023) ou lines hese assump ions as comple eness o ma ke s, ze o ansac ion cos s, absence o
se ious unce ain y o pe ec in o ma ion, su icien hickness and ex ension o ma ke s o nume ous ad-
e s a e ul illed. Howe e , hese assump ions a e so s ingen ha all o hem a e o en no complied wi h,
especially in de eloping coun ies, which sugges s ha ma ke s in de eloping coun ies a e sca cely e i-
cien (Bi dsall e al., 2010; od ik, 2007; wFP, 2023). ag icul u al ma ke ing and pa icula ly ood p oduce
ma ke ing has adi ionally been conce ned wi h he business ac i i ies ha make ood p oduce a ailable
o he consume . an economic heo y and a a ian o he neolibe al heo y ha seeks o explain his
p ocess mo e speci ically is he ag icul u al ma ke ing heo y. a key ea u e o he ag icul u al ma ke ing
4 c. an wiagO aMa cHeY anD P. a. kwakwa
heo y has always been p ice. P ice is impo an in he ansac ion o selling and buying and is de e mined
by he supply and demand o he commodi y (asmundson, 2023; Shephe d, 2005). i means ha he selle
independen ly se s he p ice and he buye decides he alue and judges he p ice agains he pe cei ed
alue and ansac ion happens when bo h he selle and he buye ealise ha hey bene i om i
(c aw o d, 2006). hus, linn (2010) and Zhao e al. (2021) conclude ha p ice and alue a e essen ially wo
sides o he same phenomenon and ha he ela ionship be ween hem igge s ansac ion.
P ice has been desc ibed as in o ma ion o he communica i e p ocesses o economic sys ems
(ludicke, 2006). Subsequen ly, lohano and Ma i (2012) w i e ha p ices a e he signals ha di ec and
coo dina e he p oduc ion and consump ion decisions as well as he ma ke ing decisions o e ime,
o m, and space. his makes he coo dina ing and in o ma ional oles ha p ices play c ucial o ma ke
e iciency. P ice in o ma ion enables p o i seeking en i ies o ake ad an age o signals o p ice di e en-
ials among ma ke s o mo e goods o he ma ke o highe p ices (Billingsley, 2005). Billingsley explains
ha his p ac ice e med a bi age3 ends o push he p ices o homogenous commodi ies owa ds
equali y and ein o ces he ‘law o one p ice’ o imp o ed e iciency o he ma ke . he law o one p ice
pos ula es ha in an e icien ma ke he e mus be only one p ice o homogenous commodi ies, ba -
ing anspo a ion and o he ansac ion cos s (a ingi-ego e al., 2006; cFi, 2022; linn, 2010).
acco ding o Ba e (2005), a bi age oppo uni ies seem o be missed in many si ua ions whe e com-
modi y p ice a iabili y ac oss space and ime is obse ed in de eloping coun ies due o poo communi-
ca ions and anspo in as uc u e. Failu e o use p ice in decision-making o ake ad an age o a bi age
oppo uni ies hus causes p ice dispa i ies o emain and he law o one p ice is iola ed (Oladapo &
Momoh, 2008). Howe e , Jensen (2009) and Falaha i (2019) asse ha in o ma ion on p ice is ha dly pe -
ec and his makes i impossible o op imal a bi age o occu since op imal a bi age can happen only
when en i ies in ol ed in he ma ke ha e ull in o ma ion. ag icul u al ma ke ing heo y concen a es no
only on p ice decision-making bu on p ice o ma ion as well. acco ding o apsomanikis e al. (2003),
spa ial p ice de e mina ion models pos ula e ha changes in supply and demand condi ions in one ma ke
will a ec ade and he e o e p ices in o he ma ke s un il equilib ium4 is es o ed h ough spa ial a bi-
age. in addi ion, Mose (2007) and Suha no (2018) indica e ha whe e wo ma ke s a e linked by ade
and a e ope a ing in a ai sys em, he impac on p ice will be equal in bo h ma ke s i a change in
demand o supply occu s in one ma ke . his si ua ion is also a p edic ion o ma ke in eg a ion.
ag icul u al ma ke ing heo y inco po a es ma ke in eg a ion as a condi ion o es ima ing he e iciency
o ma ke ing sys ems. wye h (1992) a gues ha ma ke in eg a ion is mul idimensional and indica es ha he
dimensions comp ise simila i y in p ice a ia ion o p ice in eg a ion, s anda disa ion o measu es and com-
mon ade habi s. he e o e, p ice in eg a ion is one o he necessa y condi ions o ma ke in eg a ion.
Howe e , ma ke in eg a ion is commonly e e ed o in e ms o he co-mo emen o p ices o p ice in eg a-
ion (Ba e , 2005; Oladapo & Momoh, 2008; oman & Žáko á k oupo á, 2022). Ma ke in eg a ion is epo ed
o ha e ou dis inc o ms which a e in eg a ion ac oss space, ime, p oduc o ms and wi hin he ma ke ing
chain ( omek & obinson, 1990). Sa pong and asan e (2002) explain ha spa ially in eg a ed ma ke s a e
ma ke s in di e en loca ions whe e he di e ence in p ice is he ans e cos s be ween hem, gi en ha
he e is ade be ween he ma ke s. in he case o ma ke s in eg a ed in ime, he p ice di e ence be ween
hem does no exceed he physical and inancial cos s o s o age. Ma ke s a e in eg a ed ac oss p oduc o m
when he p ice di e ence be ween wo ela ed p oduc s does no exceed p ocessing cos s (Mose, 2007).
in eg a ion wi hin he ma ke ing chain o e ical in eg a ion happens when he p oduce , wholesale and
e ail ma ke s o he same commodi y in an a ea a e in e ela ed and in eg a ed (kanaka aj, 2010; Suha no,
2018). his s udy deals wi h spa ial in eg a ion o plan ain ma ke s.
gha oo e al. (2009) de ine spa ial ma ke in eg a ion as he co-mo emen o he long- un ela ion-
ship among p ices in spa ially sepa a ed ma ke s. in suppo o his de ini ion, ankamah-Yeboah (2012)
adds ha spa ial ma ke in eg a ion measu es he ex en o which ma ke s a geog aphically dis an
loca ions sha e common long- un p ice o ade in o ma ion on a simila commodi y. acco ding o
acquah e al. (2012), in spa ially in eg a ed ma ke s p ices a e de e mined a he same ime in he a i-
ous loca ions, and in o ma ion o any change in p ice in one ma ke is ansmi ed o he o he ma ke s.
Spa ial ma ke in eg a ion is impo an in plan ain ma ke ing since plan ain is bulky and pe ishable and
consume s a e loca ed a dis ance away om p oducing a eas and ma ke ing may in ol e high anspo
cos s (acquah & Owusu, 2012). he consequence o a bi age ac i i ies in a compe i i e ma ke is p ice
cOgen BUSineSS & ManageMen 5
in eg a ion. Se a e al. (2006) no e ha imp o ing in o ma ion be ween spa ially sepa a e ma ke s con-
ibu es signi ican ly o spa ial p ice in eg a ion and sugges ha explici ade be ween spa ially sepa-
a e ma ke s is no a necessa y condi ion o p ice adjus men s o occu and esul in p ice in eg a ion.
ag eeing ha in o ma ion imp o es he compe i i eness o ma ke s, Mose (2007), lohano and Ma i
(2012) as well as Bi ge e al. (2020) also conclude ha analysing spa ial p ice in eg a ion gi es an indi-
ca ion o he compe i i eness and he e ec i eness o a bi age in ma ke s. in eg a ion o ma ke s can
occu o a ious deg ees anging om pe ec ma ke in eg a ion o comple e ma ke segmen a ion.
apsomanikis e al. (2003) de ine pe ec ma ke in eg a ion o comple e p ice ansmission be ween wo
spa ially sepa a ed ma ke s ‘as a si ua ion whe e changes in one p ice a e comple ely and ins an aneously
ansmi ed o he o he p ice, as pos ula ed by he law o One P ice’ (p. 55). his de ini ion dis inguishes
be ween sho un and long un p ice ansmission by sugges ing ha p ice ansmission is incomple e
i i is no ins an aneously passed- h ough. in his case, p ice ansmission could be incomple e in he
sho - un bu comple e in he long un when p ice ansmission occu s comple ely a e a ime lag
(ankamah-Yeboah, 2012; lohano & Ma i, 2012; oman & Žáko á k oupo á, 2022).
ano he impo an issue he de ini ion o pe ec ma ke in eg a ion b ings ou is he speed by which
p ices adjus o he long- un ela ionship which also a ies as a esul o easons such as policies, he
numbe o s ages in ma ke ing and delays in anspo a ion o p ocessing (Se a e al., 2006). acquah
e al. (2012) and Sh es ha e al. (2014) a gue ha he sho e he ime lapse o long un p ice ansmis-
sion o be comple e, he be e , since longe ime lapse sends ou inaccu a e p ice signals ha migh
mislead a me s in hei ma ke ing decisions. in he case o ma ke segmen a ion, on he o he hand,
he e is absence o any p ice ela ionship and wide p ice di e en ials exis be ween wo ma ke s linked
by ade (De con, 1995). De con, howe e , no es ha his is a e and may only occu unde si ua ions o
na u al calami ies o ci il con lic s. Mose (2007) asse s ha in he eal wo ld nei he pe ec in eg a ion
no segmen a ion has been obse ed, ins ead a ying deg ees o in eg a ion ha occu be ween he wo
ex eme cases a e a he ound.
he a ying le els o in eg a ion ound in eal ma ke s can be a ibu ed o he in luence o ce ain
ac o s ha hinde in eg a ion. Many ac o s a e indica ed in he li e a u e, howe e Sex on e al. (1991)
ca ego ise he ac o s in o h ee as hose causing ma ke s no o be linked by a bi age, hose posing
impedimen s o e icien a bi age and hose causing impe ec compe i ion in ma ke s. oo high ans-
ac ion cos s and ma ke ing ma gins a e usually ci ed as he ac o s ha hinde he ansmission o p ice
signals and p ohibi a bi age (Badiane & Shi ely, 1998; Falaha i, 2019; apsomanikis e al., 2003). among
he ac o s ha impede e icien a bi age lu z e al. (1995) men ion he cha ac e is ics o ag icul u al
p oduc ion, ma ke ing and consump ion such as seasonali y, inadequa e in as uc u e, ma ke en y
ba ie s and un eliable ma ke in o ma ion. he g oup o ac o s causing impe ec compe i ion in ma -
ke s includes collusion among ade s and poo ma ke in o ma ion which esul in g ea e p ice unce -
ain ies and consequen ly hinde ma ke in eg a ion (alam & Begum, 2007; oman & Žáko á k oupo á,
2022; Sh es ha e al., 2014). he mic o-le el eali ies o ood p oduce ma ke s in much o he de elop-
ing wo ld and o ha ma e , plan ain ma ke ing in mid ghana may include mos o hese ac o s and
he ma ke s may ha e low le els o ma ke in eg a ion.
none heless, Mose (2007) cau ions ha he co-mo emen o p ices be ween ma ke s in di e en loca ions
o spa ial ma ke in eg a ion may no always signi y a p ice ela ionship as his can also happen when he e
is no di ec causa ion. he easons a ibu ed o his include seasonali y in ag icul u e whe e ma ke s ha a e
no connec ed expe ience common p ice changes a ising om simila supply a ia ions as a esul o d ough s
o ain all. Monopoly con ol by he p i a e sec o o by a s a e ma ke ing boa d and in la ion a e o he ea-
sons gi en o he co-mo emen o p ices be ween ma ke s (acquah e al., 2012; Jale a & geb emedhin,
2012). Ma ke e iciency is es ablished when p ices in wo di e en ma ke s di e by ans e cos s
( apsomanikis e al., 2003). kanaka aj (2010) desc ibes an e icien ag icul u al ma ke as one whe e he e is
a uni o m p ice o an iden ical p oduc p e ailing in he en i e ma ke a ea. Mensah-Bonsu e al. (2017) and
Suha no (2018) epo ha ma ke e iciency is based on he p emise ha i any wo ma ke s a e in eg a ed,
a p ice change in one o hem will be e lec ed in a p ice change in he o he and he p ice di e ences
be ween he gi en ma ke s would ep esen only anspo a ion cos s and no mal p o i . he e o e, ma ke s
unc ion e icien ly when hey a e in eg a ed in p ice ela ionships and he mo e in eg a ed a ma ke is he
mo e e icien i is since i ends o be mo e compe i i e (geb e e al., 2022; Sh es ha e al., 2014).
6 c. an wiagO aMa cHeY anD P. a. kwakwa
Ba e (2001) and Ba e and li (2002) make an impo an dis inc ion be ween ma ke in eg a ion
and ma ke e iciency by poin ing ou ha while ma ke in eg a ion is es ablished only when adabili y
and non-ze o ade lows condi ions a e sa is ied, e iciency is es ablished when p ices in wo di e en
ma ke s di e by ans e cos s. Howe e , an in eg a ed ma ke sys em has become synonymous wi h an
e icien ma ke ing sys em. lohano and Ma i (2012) poin ou ha spa ial ma ke in eg a ion o ag icul-
u al ma ke s has been la gely used as an indi ec measu e o ma ke e iciency. Fu he mo e,
ankamah-Yeboah (2012) asse s ha spa ial ma ke in eg a ion is an indica o o measu ing ma ke pe -
o mance. in he iew o Bylund (2015) and Bi ge e al. (2020), he ma ke may be e icien ; howe e , he
exis ence o ansac ion cos s can make i cos ly o b ing abou he pe ec compe i i e ma ke s uc u e.
3. Me hodology
he s udy was conduc ed in mid ghana and speci ically in echiman Municipali y in Bono eas egion
and asu i i Sou h Dis ic and ano no h Dis ic , bo h in aha o egion (Figu e 1). Un il Feb ua y 2019,
all he h ee dis ic s we e pa o he B ong aha o egion which was he second la ges egion in ghana
wi h a land a ea o 39,558 km2. i sha ed bounda ies wi h wes e n egion and ashan i egion on he
sou he n side, ol a egion o he eas , no he n egion o he no h and la co e d’i oi e o he wes .
Figu e 1 is a map o he dis ic s in mid ghana. Plan ain p oduc ion in he a ea is subsis en in na u e
wi h mo e han 90 pe cen o he cul i a ed a ea belonging o smallholde a me s, like he es o ood
c ops in ghana (Dzomeku e al., 2011). Plan ain, and he ood c op sec o in gene al, is cha ac e ised
wi h he dominance o ain ed ag icul u e which engende s p oduc ion seasonali y.
Figu e 1. Map o dis ic s in mid ghana showing s udy a ea.
cOgen BUSineSS & ManageMen 7
he dis ic s in mid ghana, p oduce la ge quan i ies o plan ain and he e o e has a la ge popula ion
o pa icipan s in he p oduc ion and ma ke ing o plan ain. acco ding o Dzomeku e al. (2011), 113,000
households a e engaged in plan ain cul i a ion and p oduce a sha e o 27 pe cen o he na ional p o-
duc ion. he longi udinal esea ch design was conside ed sui able o his s udy because he design is
scien i ically alid (enu-kwesi, 2005; homas, 2022; Yin, 2009) and seconda y da a comp ising p ice se ies
we e needed. Seconda y da a in he o m o mon hly wholesale nominal p ices in gH¢ pe 9–11 kg
bunch o plan ain om Janua y 2006 o Decembe 2015 we e eques ed and ob ained om he Minis y
o Food and ag icul u e. he pe iod selec ed was based on he a ailabili y o eliable da a. he na u al
loga i hmic o he da a we e used o analyse he spa ial in eg a ion o he selec ed ma ke s.
he da a co e ed echiman ma ke ep esen ing echiman Municipali y, Duayaw nkwan a ma ke ep-
esen ing ano no h Dis ic and kenyasi ma ke ep esen ing asu i i Sou h Dis ic . kenyasi ma ke ,
hough loca ed in asu i i no h Dis ic , was used o ep esen he asu i i Sou h Dis ic because he
ma ke se ed as he dis ic ma ke o asu i i Dis ic o which asu i i Sou h Dis ic was pa un il i
was ca ed ou in 2012 and p ice da a con inued o be join ly kep e en up o 2015.
Bo h desc ip i e and in e en ial s a is ics we e applied o analyse he da a. he desc ip i e s a is ics helped
o explo e he da a o be able o desc ibe he dis ibu ion o a iables and he ela ionship among hem
be o e any u he analysis was done (Bha ache jee, 2012). hus, a g aph was used o ep esen he season-
ali y o plan ain p ices. ega ding in e en ial s a is ics, co ela ion analysis (using Pea son, Spea man ank-o de
and kendall au), coin eg a ion analysis5 (using engel-g ange and Phillips-Ouilia is), eg ession (e o co ec-
ion model) and causali y analysis (using oda and Yamamo a) we e used o es ablish he p ice ela ionships
among he h ee spa ially sepa a ed ma ke s. he eg ession analysis using he e o co ec ion model is
employed o ind he ex en and speed o p ice ansmission among he ma ke s so as o de e mine ma ke -
ing e iciency. lohano and Ma i (2012) applied he same measu e o assess he ex en and speed o p ice
ansmission among ood p oduce ma ke s. P io o he eg ession and coin eg a ion analyses a uni oo 6
es s (augmen ed Dickey-Fulle and Phillips-Pe on es ) we e done o ensu e he a iables a e s a iona y.
i is no ed ha i ma ke s in di e en loca ions a e in eg a ed, hen he e exis s an equilib ium ela-
ionship among he ma ke s (acquah & Owusu, 2012; nkendah & nsouessin, 2006). he long- un equi-
lib ium ela ionship o analysing spa ial ma ke in eg a ion used in p e ious s udies such as lohano and
Ma i (2012) is speci ied as equa ion (1):
PP
12
= +
αλ
whe e
P
1
and
P
2
ep esen p ices o a simila ood p oduce in wo al e na i e dis ic ma ke s a ime
, and α and λ a e unknown pa ame e s. i wo ma ke s a e pe ec ly spa ially in eg a ed, hen λ = 1
(lohano & Ma i, 2012). his ep esen s a si ua ion whe e, p ice changes in one ma ke a e ully e lec ed
in he al e na i e ma ke . when λ ≠ 1 (λ < 1 o λ > 1), hen he deg ee o in eg a ion may be de e mined
by in es iga ing how a he de ia ion o λ is om uni y. Since he abo e model o long- un ela ionship
be ween ma ke s may no sa is y a each ime pe iod, sho - un dynamics is in eg a ed wi h he long- un
ela ionship and an e o co ec ion model ep esen a ion o equa ion (1) is indica ed as:
∆∆P P PP
1
01 1
1
1
2
0
2
1=+−
()
−−
()
++
−−
β β αλ γ ε
whe e
∆
P
i
ep esen s change in he p ice
PP
i
i
−
()
−1 a dis ic i = 1, 2;
β
0
,
β
1
, and
γ
0
a e unknown pa am-
e e s, and
ε
is he e o e m. in his model,
PP
−−
−−
()
1
1
1
2
αλ
measu es he ex en o which he long- un
ela ionship is no sa is ied a ime pe iod –1. he pa ame e
β
−
()
1 is in e p e ed as he p opo ion o
he esul ing disequilib ium adjus ed in he nex pe iod. he e o e, he e m
β αλ
−
()
−−
()
−−
11
1
1
2
PP
is he
e o co ec ion e m. he adjus men p ocess makes sense i 0 ≤
β
1
< 1. when
β
1
is close o 0, he speed
o adjus men o long- un equilib ium is e y as . when
β
1
is close o 1, he speed o adjus men is e y
slow (lohano & Ma i, 2012). he linea e o co ec ion model app oach was used in his s udy since a
linea eg ession pos es ima ion ( eSe ) es indica ed ha he model is i and ha he linea i y
assump ion is no iola ed see able 1.
14 c. an wiagO aMa cHeY anD P. a. kwakwa
4. a ma ke is a equilib ium i a he ma ke p ice he quan i y demanded is equal o he quan i y supplied. he
p ice a which he quan i y demanded is equal o he quan i y supplied is he equilib ium p ice o ma ke
clea ing p ice (Salish & Mcclung, 2020).
5. coin eg a ion e e s o he si ua ion whe e wo o mo e a iables a e each non-s a iona y, ye he e exis s a
combina ion o hese a iables which is s a iona y ( ehal, 2023a). he a iables a e said o ha e a long- un o
equilib ium ela ionship. he a iables may di e ge om hei equilib ium posi ion in he sho un bu ha e
he endency o con e ge owa ds he long- un equilib ium posi ion. i coin eg a ion exis s be ween wo a i-
ables ha sha e simila non-s a iona y p ope ies, hen eg ession can p oceed wi hou gene a ing spu ious
esul s ( ehal, 2023b). he aim o coin eg a ion es is hus o ind ou i a linea combina ion o non-s a iona y
a iables is s a iona y. Some popula es s used o his pu pose a e engle-g ange , Phillips-Oulia is and
Johansen es .
6. i is a uni o measu emen o de e mine how much s a iona i y a ime se ies model has. a s a iona y ime
se ies is one whose s a is ical p ope ies such as mean, a iance, au oco ela ion, e c a e all cons an o e
ime, a si ua ion which makes p edic ions easie and a e essen ial o he calcula ion o eliable es s a is ics
(Moh , 2020). i he e o e becomes impo an o es o s a iona i y o uni oo be o e analysing any ime
se ies da a (Mensah-Bonsu e al., 2017). Some key me hods used in es ing o s a iona i y a e he augmen ed
Dickey-Fulle (aDF) es and he Phillips and Pe on es .
S a emen s and decla a ions
• e hics app o al and consen o pa icipa e: no applicable.
• Da a a ailabili y: he da ase s analyzed du ing he cu en s udy a e a ailable upon eques .
• compe ing in e es s: he au ho decla e ha hey ha e no compe ing in e es s.
• Funding: he au ho s ecei ed no unding o his s udy.
• esea ch in ol ing Human Pa icipan s and/o animals: no applicable.
• in o med consen : he s udy did no ely on da a o pa icipan s o whom consen was needed.
Au ho s’ con ibu ion
all au ho s ag ee o be accoun able o all aspec s o he wo k.
ch is ina an wiago ama chey: concep ualiza ion, da a collec ion and analysis, d a ing o pape , e ising i c i i-
cally o in ellec ual con en and inal app o al o he e sion o be published.
Paul adjei kwakwa: Da a analysis, co espondence, e ising i c i ically o in ellec ual con en inal app o al o he
e sion o be published.
Disclosu e s a emen
no po en ial con lic o in e es was epo ed by he au ho (s).
Abou he au ho s
Ch is ina An wiago Ama chey is a lec u e wi h he P esby e ian Uni e si y ghana. He esea ch in e es is in he a ea
o sus ainable de elopmen , sani a ion, ag icul u al economics, u al and communi y de elopmen among o he s.
Paul Adjei Kwakwa is a Senio lec u e wi h he Uni e si y o ene gy and na u al esou ces, Sunyani, ghana, whe e
he eaches economics and economics- ela ed subjec s. His esea ch in e es s ocus on economic g ow h, economic
de elopmen , and en i onmen al and esou ce economics.
ORCID
Paul adjei kwakwa h p://o cid.o g/0000-0002-6516-217X
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