Study on price variability of Chilli at Byadgi market of Karnataka

Abstract

The present study analyzes the trend and variability in prices of chilli in Byadgi market of Karnataka. The time series data on prices of chilli over the period of 16 years from 2003 to 2018 for Byadgi market were collected. Trend analysis was carried out by fitting suitable polynomials for the prices during study the period. The results revealed that the prices of chilli were found to be best fitted with a 2nd degree polynomial was found to be the best fit with maximum adjusted R2 value (0.772), where both coefficient of linear and quadratic term were found significant at 1 per cent level. Further, an overall 47 per cent variation in prices was observed in Byadgi market. It was also found that the maximum price recorded to be 13644 Rupees/Quintal during January, 2018 while the minimum price recorded to be 1403 Rupees/Quintal in July, 2003.