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ABSTRACT
The study investigated the profitability and efficiency of plantain production in Sagbama Local Government Area of Bayelsa State, Nigeria. A multi-stage sampling technique was used to select 195 plantain farming household for this study.Datacollected with the aid of structured questionnaire was analysed using descriptive statistics, net farm income, stochastic frontier production function, and allocative efficiency index.The result shows that the respondents had an average farm size of 0.82 hectares and a net farm income (NFI) of N157, 521.20/ha. The return per naira invested was N2.26 for the plantain farmers implying that for every one naira invested in plantain production is realized. The farm specific allocative efficiency was estimated to be 0.863. This indicates thatallocative inefficiency contributed 86% to the short fall in plantain production between maximumpossible (frontier) level of production and recorded output.Specifically, the result indicates that 13.7% reduction in plantain production from maximum possible (frontier) output is attributed to allocative inefficiency. Furthermore, estimation from the allocative efficiency index indicated that the planting material, fertilizer, agrochemical and farm size were underutilized as their allocative efficiency index were found to be >1 while labour was over utilized as the allocative index was found to be <1. Profitability has positive implications for investment opportunities for individuals and corporate organizations and thus, improved household incomes. Adjustments in the production inputs such as farm size, increase and efficient utilization of fertilizers and herbicides and their cost of acquisition could lead to increased production of plantain. Farming experience, membership of cooperative societies, accessibility to credit, extension visits and education were significant variables that influenced efficiency. Technical and economic efficiencies in plantain production in the study area ranged between 0.52 and 0.98 with a mean of 0.84 and 0.63 and 0.93 with a mean of 0.72 respectively. Specifically, the result indicates that 16.5% and 27.9% reduction in plantain production from maximum possible (frontier) output is attributed to technical and economic inefficiencies respectively. Planting material, fertilizer, agrochemical and farm size were underutilized. To maximize output, the planting material, fertilizer, agrochemicals and farm size should be increased, while less labour should be used. Farmers should be encouraged to join cooperative society and extension service should be strengthened or intensified to train farmers on improved plantain production. Also, fertilizer should be supplied at subsidized rate.
ECONOMIC ANALYSIS OF PLANTAIN PRODUCTION IN SAGBAMA LOCAL GOVERNMENT AREA, BAYELSA STATE, NIGERIA
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