Journal of Food, Agriculture and Environment

Analysis of costs and returns to management in yam wholesale market in Efon-Alaaye Local Government Area of Ekiti State, Nigeria

Author(s):

J. A. Folayan ^1*, A. E. Oguntade ²

Recieved Date: 2011-05-28, Accepted Date: 2011-10-05

Abstract:

The study was carried out for the purpose of examining the various costs involved in the yam wholesale market, estimating the unit marketing costs and unit marketing margins, the quantity and cost of yam loss in storage due to spoilage and calculating return to management (RTM) in Efon Alaaye Local Government Area of Ekiti State, Nigeria. The study used primary data collected with structured questionnaire administered to 35 yam wholesalers in the market. The study employed ordinary least square (OLS) regression analysis to determine the relationship between quantity of yam kept in storage and quantity loss in storage due to spoilage. The arithmetic mean of marketing costs and margins were ₦4.47/kg and ₦12.67/kg of yam, respectively. The total estimated monetary loss to spoilage was ₦1,795,150. About 56.53% of the total marketing cost went to transport, 33.55% to labour, 7.36% to equipments, 2.16% to rent and 0.09% to association. The total return to management per annum was 1,168,375 Naira, the average return to management per annum ₦333,805, the maximum return to management ₦974,109 and the minimum return to management ₦57,778. The quantity of yam kept in storage (Qs) per annum is positive statistically significant explanatory variable of the quantity of yam loss in spoilage during storage at 5% level. It is recommended that wholesalers should reduce the quantity of yam kept in storage while the storage condition should be improved.

Keywords:

Yam, wholesale, costs and returns to management

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Journal: Journal of Food, Agriculture and Environment
Year: 2011
Volume: 9
Issue: 3&4
Category: Agriculture
Pages: 552-556

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