Economic analysis of cassava production in Akoko District of Ondo State, Nigeria
1 Department of Agricultural Economics, Adekunle Ajasin University, P. M. B.001, Akungba-Akoko, Ondo State, Nigeria.
2 Department of Agricultural Science and Technology, Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti, Nigeria.
Research Article
World Journal of Advanced Research and Reviews, 2022, 14(01), 391–399
Article DOI: 10.30574/wjarr.2022.14.1.0348
Publication history:
Received on 16 March 2022; revised on 19 April 2022; accepted on 21 April 2022
Abstract:
The study evaluated the economic analysis of cassava production in Akoko area of Ondo State, Nigeria. Data were collected using a well-structured questionnaire and interview schedule. Descriptive statistics, budgetary techniques and multiple regression model were employed for the data analysis. The results showed that the majority (72.7%) of cassava farmers were male households and they were within the active age group given a mean of 50years with a mean household size of 5 persons. About 80.7% of the farmers were married and had an average farming experience of 13years while about 82.0% of them had formal education. The cassava farmers had an average farm size of 1.9ha and many (62.7%) of them started their farming business with their personal income. The results of budgetary analysis revealed that the net farm income was ₦149,101.92 with the return on investment of ₦1.5. This implies that for every N1 invested in the business, there is a return of 50k. The result of the multiple linear regression showed that agrochemical, labour, farm input, and age were the major factors that had a significant influence on the profit of the cassava farmers. Again, inadequate capital for start-up, unstable price, and high cost of inputs were the main constraints faced by the farmers in the area. From the findings, there is a need for the cassava farmers in the study area to form a cassava farmer corporative to solve problems of accessibility to loan, resource allocation, dissemination of information and other challenges as this will increase their productivity and output.
Keywords:
Production; Net farm income; Cooperative; Resource; Accessibility
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