Price Formation And Agricultural Land Market In Arondizuogu, Ideato North Local Government Area, Imo State

ABSTRACT

Land is crucial production factor in agriculture, it is natural resources that is valued for many reasons, land is usually in short supply and its agricultural area usually decline overtime due to increasing non-agricultural uses particularly in recent years. The market result on the determinant agricultural land using linear form as the head equation showed that 85.88% of changes in price of agricultural land were accounted for by the variation in the modeL Such variables as Yield, Location, Size of land, and Income from land leasing. Price formation and agricultural land market where all signijicant at 1 %, 5%, 1 % and 10% respectively. Analysis of the result revealed that 85% of the respondent got their land through inheritance, 5 percent got their land through rent and 10 percent of the respondents purchase land. Other factors that can hinder the price of Agricultural land include; location, capital, scarcity, expensiveness, topography, overpopulation, agent etc. the major determinants of price of Agricultural land in the area are monthly income, sex of the household head, household size and educational level of household head and material status of the household head.