TREND IN FLUCTUATION OF CRUDE OIL PRICE, REAL EXCHANGE RATE AND PRICES OF SELECTED EXPORT CROPS IN NIGERIA

Main Article Content

CHINEDUM JACHINMA CHIEMELA
BENJAMIN C. OKPUKPARA
NWAJESUS A. ONYEKURU
CHUKWUEMEKA J. ARENE
STELLA NWAWULU CHIEMELA

Abstract

This study addressed one of the uprising issues in economics with regards to price fluctuations. The study described the fluctuations in crude oil price, real exchange rate and prices of selected export crops in Nigeria. Data for crude oil price, real exchange rate (RER) and national average prices of export crops were obtained from the Organization of Petroleum Exporting Countries (OPEC), the Central Bank of Nigeria (CBN) Statistical Bulletin, and the publications of CBN respectively. The study used secondary data of 38 years period (1980-2017) and focused on five important export crops in Nigeria such as soya beans, cocoa, rubber, cotton, and benniseed. The results showed that crude oil price, real exchange rate and the prices of these selected export crops showed dynamic movements from the year 1980 to 2017. Results also showed that export crops exhibited high level of volatility amongst them. Policy recommendations can be drawn from the findings.

Keywords:
Crude oil price, real exchange rate, export crop prices, price fluctuations and trend.

Article Details

How to Cite
CHIEMELA, C. J., OKPUKPARA, B. C., ONYEKURU, N. A., ARENE, C. J., & CHIEMELA, S. N. (2020). TREND IN FLUCTUATION OF CRUDE OIL PRICE, REAL EXCHANGE RATE AND PRICES OF SELECTED EXPORT CROPS IN NIGERIA. Journal of Basic and Applied Research International, 26(3), 1-8. Retrieved from https://www.ikprress.org/index.php/JOBARI/article/view/5103
Section
Original Research Article

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