@article{Sarmiento:290418,
      recid = {290418},
      author = {Sarmiento, Jon Marx P. and Romo, Glory Dee A. and  Aguinaldo, Roxanne T. and Laorden, Nikko L. and Orr, Leanne  and McClintock, Anthea and Pollock, Kirrily and Digal,  Larry N.},
      title = {Are fruits and vegetables market efficient? Vertical price  integration of selected crops in southern Philippines},
      address = {2011-10-13},
      number = {2232-2019-2309},
      pages = {22},
      month = {Oct},
      year = {2011},
      abstract = {One of the indicators of an efficient market is when  prices are integrated. Top producing areas for mango,  papaya, cabbage, eggplant tomato, and potato in Southern  Philippines are considered in this study. The said crops  are the priority of the Australian Centre for Agricultural  Research horticulture program in the country. Market  integration is assessed using vertical price integration  employing the techniques of Vector Autoregression, Granger  Causality, Cointegration, and Vector Error Correction  model. Results suggest that cabbage is considered to have a  good indicator of market integration. Retail and wholesale  prices Granger cause the farmgate level prices. Mango  prices are comparably better integrated than the remaining  crops. NCR retail market is believed cause mango price  formation in the farm. Wholesale influences the farmgate  price movement in the case of eggplant and tomato. Papaya  and potato suggested a segmented market especially in NCR  retail market. Thus, initiatives to improve farm  productivity should be focused on those crops that show  efficiency in the market. Market inefficiencies could be  due to logistics and marketing losses among others. Value  chain analysis on the areas identified is recommended to  validate the results.},
      url = {http://ageconsearch.umn.edu/record/290418},
      doi = {https://doi.org/10.22004/ag.econ.290418},
}