Determinants of choice of selected timber species traded in timber markets in Southwest, Nigeria

Abstract

This study was designed to investigate the determinants of the choice of selected timber species being traded in timber markets in Southwest, Nigeria. The study focused on three States in Southwest Nigeria which are Ondo, Ogun and Oyo States. The study relies mostly on primary sources of data sourced from the timber merchants in an open market. The primary data were collected using copies of well-structured and pre-tested questionnaires. A multistage sampling procedure was used to select 180 timber marketers as respondents for the study. Multinomial logit regression model was used to analyze the data obtained. Results revealed that timber price, durability, workability, variety of uses and availability among others significantly influence the determinants of the choice of selected timber species being traded in timber markets in the study area in different directions and probability levels. It was revealed that same factors may influence the choice of different timbers being traded in different directions and at different probability levels. While a particular variable may have positive influence on certain species, it may have negative influence on other species and/or of no effect on another species. Based on the findings from this study, perfect understanding of these factors by timber marketers would go a very long way in determining species to stock for sale which will ensure their steady progress in the business, hence association of timber marketers and government in terms of policies and regulations should be geared towards educating timber marketers on all factors that drive increased decision making on choice of species to stock for sale in the market.