Authors : J.A. Folayan , A.E. Oguntade and K. Ogundari
Abstract: This study employs time series and price elasticity of supply as the analytical tools in an attempt to empirically examine the effects of deregulation policy on the output and price of cocoa beans pre- and post deregulation in Nigeria between 1981 and 2003. Secondary data sourced from published and unpublished materials from produce departments of cocoa producing states of Nigeria as well as from the Central Bank of Nigeria and Federal office of Statistics were used. The empirical results revealed that the output of cocoa declined steadily pre-deregulation from 174,000 metric tons in 1985 while the output increased post deregulation from 126,000 metric tons in 1987 to 268,000 in 1991 whereas the price increase pre-deregulation era from 1, 00 per metric tons in 1981 to 1,600 per metric tons in 1985 while the price increase post-deregulation are from 8,000 per metric ton in 1987 to 9,000 per metric tons in 1991. Also, the result of time series and price elasticity of supply analyses revealed fluctuating trend in prices and output of cocoa with output and prices of cocoa increasing more during the post deregulation than the pre-deregulation
J.A. Folayan , A.E. Oguntade and K. Ogundari , 2006. The Effects of Deregulation Policy on Cocoa Marketing in Nigeria. Agricultural Journal, 1: 320-323.