Cost and Returns Analysis of Okra Marketing in Ijebu North Local Government Area of Ogun State, Nigeria

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International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue X, October 2020 | ISSN 2321–2705

Cost and Returns Analysis of Okra Marketing in Ijebu North Local Government Area of Ogun State, Nigeria

Oyewo, I. O1*, Shaib-Rahim, H. O2, Robert, A.E3, Oyewole, O.O4, Adedipe, J.O5, Aduloju, A. R6, Agboola, F.O7
1,2,3,5,6Department of Agricultural Technology, Federal College of Forestry, P.M.B. 5087 Jericho, Ibadan Nigeria
4Department of Agricultural Extension and Management, Federal College of Forestry, Ibadan, Nigeria
7Department of Forestry Technology, Federal College of Forestry, Ibadan, Nigeria
Correspondence Author*

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Abstract The studies examined the cost and returns analysis of okra marketing in Ijebu North Local Government Ogun State Nigeria. The socio economic characteristics of the respondents, cost and returns of okra marketing, the profitability of okra marketing and the problems affecting okra marketing in the study area were examined. Well-structured questionnaires were administered for primary data collection to seventy marketers. Data were analyzed using descriptive statistics while profitability of the enterprise was analysed using Gross Margin analysis (GM). Results showed that all (100%) of the respondents were female, (34.4%) of the respondents were within the age of 30-40 years while 1.4% were within the age of 60 and above. Majority (85.7%) of the farmers had first school leaving certificate and 68.6% were married, 78.6% had household size of 1-5 people, 52.9% of them had been in the business of okra marketing for 1-5 years (71.4%). The total revenue was ₦813,000 and total variable cost was ₦688, 866. 66k while the gross margin was ₦124,133.33 and benefit cost ratio was 1.18. It is therefore, concluded that okra marketing was a profitable agricultural business in the study area. Major constraints in okra marketing were lack of finance and transportation. In the light of the above findings of the this study, it was recommended that government should renovate the roads to the various farms where the marketers source for their stock and provide credit facilities to the marketers to enable them improve their profits.

Keywords: Cost, Return, Gross Margin, Okra, Marketing, Ogun State

I INTRODUCTION

Okra as a vegetable crop belongs to the genus Abelmoschus, Family Malvaceae and has two main species: Albemuschus esculentus (L) Moench and Abelmoschus caillei (A. Chev) Stevels (Siemonsma, 1982). It originated from Africa, the plant is now cultivated in tropical, sub- tropical and warm temperate regions around the world (NRC, 2006). The economic importance of okra cannot be overemphasized. Okra contains carbohydrate, protein and vitamin C in large quantities (Adeboye and Oputa, 1996). The essential and non-essential amino acids that okra contains are comparable to that of Soybean. It was also reported by Eke et al., (2008) that fresh okra fruit is a good source of vitamins, minerals and plant proteins. As a result it plays a vital role in human diet; it can be consumed boiled, fried or cooked for the young immature fruits. In Nigeria, okra is usually boiled in water resulting in slimy soups and sauces, which are relished. The fruits also serve as soup thickeners (Schippers, 2000). It contains valuable food ingredients, which can be successfully utilized to build up and repair the body (Bakhru, 2003). The leaves, buds and flowers are also edible. Okra seed could be dried. The dried seed is a nutritious material that can be used to prepare vegetable curds, or roasted and ground to be used as coffee additive or substitute (Farinde et al., 2001). Okra leaves are considered good cattle feed, but this is seldom compatible with primary use of the plant. Okra mucilage is suitable for medicinal