Comparative Analysis of the Profitability of Cassava Value Added products in Ondo State, Nigeria

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Comparative Analysis of the Profitability of Cassava Value Added products in Ondo State, Nigeria

Mafimisebi O. E.1, Akinbobola T. P.2*and Awoyomi T. E.1
1Department of Agricultural Extension & Management, Rufus Giwa Polytechnic, Owo, Ondo State, Nigeria
2Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Nigeria
*Correspondence author

IJRISS Call for paper

DOI: https://doi.org/10.51244/IJRSI.2023.10421

Received: 28 March 2023; Revised: 19 April 2023; Accepted: 27 April 2023; Published: 28 April 2023

Abstract: Value addition in agriculture remains an icing on the cake, and a sustainable pathway to economic growth and investment. However, in the quest to add value to agricultural produce, profitability is a great criterion to the choice and preference of various value additions. This study compared the profitability of value-added cassava products in Ondo state, Southwest Nigeria. Multistage sampling procedure was used to select 110 respondents. Primary data were collected and analyzed using both descriptive and inferential statistic (Profitability/Budgetary analysis and ANOVA). The results revealed that cassava roasted granules, Fufu and cassava flour were the common cassava value addition. Results of the profitability analysis revealed that processing cassava to pupuru (GM = ₦11,520) and cassava flour (GM = ₦10,860) were the most profitable cassava value addition. Lack of adequate technologies (x̅ = 0.96) and poor extension services (x̅ =0.93) were the major constraint to cassava value addition. Also, there was no significant differences (F = 3.107, ρ≥0.05) in the profits from the value-added products across the communities. The study therefore concluded that value addition is profitable in cassava, hence concerted efforts should be made by stakeholders in encouraging and enhancing value addition policies for agricultural produce especially cassava.

Keywords: bioeconomy; Cassava; economic growth, investment, value-addition; profitability analysis; Gross Margin;

Introduction

Cassava (Manihot esculanta) is one of the world’s most important food crops appreciated as a 21st century crop mostly grown by smallholder farmers [1,2] as a result of its high drought resistance and profitability. In Africa, it is second most important staple food in terms of per capita calories consumed which makes it hold great promise for feeding Africa’s growing population [1]. Apparently in Nigeria,