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Table 2 Key variables used in the analysis and prior elicited information

From: Performance, behaviour and organization of maize trading in Malawi

Variable Description Prior source Mean (SD)
Maize prices Prevailing price of maize (MK/kg) MoAFS, IFPRI, ADMARC 35 (25)
Profit Price Cost Margin (PCM) (MK/kg) MoAFS, IFPRI, market chairperson 25 (12)
Trader is male Proportion of traders who are male Observation .75 (.20)
Registered business Whether business was registered MRA, market chairperson, MCCCI .20 (.10)
Export licence Whether the business has an export licence MCCCI, market chairperson .05 (.03)
No. trader Number of traders in the market District council, observation 28 (17)
Asset replacement Frequency of asset replacement Flat
Search time Time spent searching for market information (minutes)   120 (60)
No. family Number of family members in maize business Flat
Business age Age of the business MCCCI, trader 5 (10)
Coverage Geographical coverage of the business Trader, market chairperson 15 (8)
No. friends Number of friends in maize business flat
No. regional traders Number of regional traders interacted with Market chairperson 5 (3)
No. district traders Number of district traders interacted with Market chairperson 12 (5)
Experience broker Experience interacting with brokers (years) Market chairperson, brokers 5 (6)
Religion Religious affiliation of the trader Market chairperson  
Christian Catholic    25 (10)
Christian Protestant    35 (10)
Islam    10 (5)
African religion African religion and others   5 (2)
Trader tribe Tribe and mother tongue of the traders Traders, market chairperson  
Chichewa    .74 (.12)
Chiyao    .15 (.05)
Chilomwe    .10 (.05)
Chisena    .01 (.01)
  1. The term mean and standard deviation (SD) are obtained from industry experts
  2. MoAFS = Ministry of Agriculture and Food Security, Malawi Government. The Ministry name changes from time to time
  3. IFPRI = International Food Policy Research Institute (Malawi Strategy Support Program)
  4. ADMARC = Agricultural Development and Marketing Corporation. A government parastatal
  5. MCCCI = Malawi Confederation of Chambers of Commerce and Industry. A private sector representative mother body
  6. MRA = Malawi Revenue Authority. Malawi’s Tax Agency.
  7. Market chairperson/trader = an individual who is elected by fellow traders to coordinate affairs of a given market
  8. GPCM = [(Sales revenue − Variable costs)/Sales revenue] × 100