The study has been carried out in Gujarat state by considering the secondary time series data from eight regulated markets based on maximum arrivals of soybean. The data pertained to the period of ten years from 2010 to 2019. The results exposed that positive and significant correlation was found for each market, indicating price of soybean was integrated in all the selected markets. The data were stationary at their first differences hence, all market price series were integrated and confirmed the long-run co-movement among the markets price. The co-efficient of ECM was positive for all the markets except Modasa shows that shocks were further deviating from the long-term equilibrium and remained volatile in short run. Moreover, in majority of the markets price transmission was occurred from one to another except in Gondal and Himatnagar market where the lack of price transmission was observed. Further, out of twenty-eight markets pairing, seventeen market pairs showed unidirectional movement while ten market prices observed bidirectional relationship. Himatnagar and Dahod market was the only pair found no causation.
Devi et al. (Sat,) studied this question.