Economics of Plantain Production in Yenagoa Local Government Area of Bayelsa State

Abstract

The study examines the economics of plantain production in Yenagoa Local Government Area of Bayelsa State. To do this, 63 structured questionnaire were administered among randomly selected plantain farmers in Yenagoa Local Government Area of the State. Results show that greater number of the plantain producers surveyed fall within the age bracket of 36-50 years. The result also showed an estimated average farm size of 0.7 hectares for plantain production. Output per hectare was estimated at 500 bunches per year, and sold at an average cost of ₦600.00 per bunch. The total cost of production per hectare was estimated at ₦76,580.00, with total annual revenue of ₦300,000.00. Net income was estimated at ₦223, 420.00. The result shows that plantain production in the study area is profitable. The double log production function had the best fit to the set of data employed in the analysis of input –output relationship in plantain production. The value of the coefficient of multiple determination (R²) obtained and its statistical test at 5% and 1% indicate that farm size, labour, number of suckers, fertilizer, amount of capital, age of farmer and farmer’s experience explain about 89.2% of the variation in quantity of plantain produced. The result further showed that fertilizer application had no significant relationship at both 1% and 5% level. Majority of the plantain farmers complained of inadequate capital investment, inadequate land and poor extension service among others in the study area.