Международный журнал экономики и менеджмента

Efficiency of Selected Sudanese Sheep Markets: A Multivariate Approach (1995-2011)

Abstract

Mohamed Bushara OA and Murtada KA Abdelmahmod

The main objective of this study is to investigate price movements among important sheep markets in the Sudan to explore their pricing efficiency. The short period of long-run equilibrium adjustment indicated that there are strong price linkages between Omdurman and other four markets (Elobied, Medani, Sennar and Nyala markets). The prices causality indicated unidirectional relation causality of Nyala market through Medani and Elobied markets. Nyala markets as terminal market located in production area Granger cause Medani and Omdurman as major consumption markets; this was taken as evidence that price movements were primarily driven by supply shocks. That mean the system was centred on Nyala i.e. Nyala could be considered as a supply market in sheep market which means the prices were supply driven.