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Determinants of Price of Mustard Seed and Mustard Oil in Domestic Markets of India

Affiliations

  • Scientist (Agril. Economics), Central Soil and Water Conservation Research & Training Institute, Research Centre, Agra-282 006, Uttar Pradesh, India
  • Assistant Professor of Agricultural Economics, Department of Agricultural Economics, Institute of Agricultural Sciences, Banaras Hindu University, Varanasi-221 005, Uttar Pradesh, India
  • Research Scholar, Department of Agricultural Economics, Institute of Agricultural Sciences, Banaras Hindu University, Varanasi-221 005, Uttar Pradesh, India

Abstract


India imports about half of its domestic consumption needs of edible oils. Among the different edible oilseeds grown in India, mustard occupies an important position as a large proportion of the Indian population consumes it as a vegetable oil. The farmers' decision regarding area allocation under oilseed crops is largely influenced by the prices of oilseeds. The study attempted to find the determinants of price of mustard seed and mustard oil in the domestic markets of India. A multiple linear regression analysis was fitted for the time series data. The results revealed that there was a positive and significant relationship between prices of sesame seed and mustard seed as well as between prices of soya oil and mustard oil. Therefore, it was concluded that sesame seed and soya oil were the close substitutes of the mustard seed and mustard oil respectively in the selected markets.

Keywords

Determinants of Price, Multiple Regression, Prices of Substitute Crops, Mustard Seed, Mustard Oil

Paper Submission Date : January 10, 2014; Paper sent back for Revision : May 20, 2014 ; Paper Acceptance Date : June 9, 2014.


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References


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