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@article{190431,
        author = {Dr. Nandini H.D and Dr. Saritha H .D},
        title = {PRICE DISCOVERY AND CO-INTEGRATION ANALYSIS BETWEEN SPOT AND FUTURES PRICES OF REFINED SOY OIL IN NCDEX},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {8},
        pages = {1034-1041},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=190431},
        abstract = {Price discovery is one of the important economic functions of Commodity futures market as it provides competitive future price from which spot market can be derived.  The study attempts to examine the evidence of price discovery and co-integration analysis in refined soyoil futures and spot market. The tests were conducted by using econometric tools like Augmented Dickey Fuller (ADF) test and Phillips- Perron(PP)test, Co-integration test and Trend analysis. The ADF test and PP test shows that there is a unit root or Stationarity at first order difference not at level. The Johansen co – integration test shows that soyoil futures and spot prices are co-integrated and there exists 1 co – integration equation between the soyoil futures and spot price series.  We can conclude that, soyoil futures price movement can be used as price discovery vehicle for spot market transactions. This study can be further validated by comparing the results of Indian future soyoil prices with international futures soyoil prices.},
        keywords = {Futures market, Spot market, Price Discovery, Co-integration},
        month = {January},
        }