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DIFFERENTIALS IN WILLINGNESS TO PAY FOR BIOFORTIFIED TOMATO FRUITS IN ABEOKUTA METROPOLIS, OGUN STATE, NIGERIA
Abstract
A lot of efforts have been made globally to improve the iodine content of staple foods through biofortification, but acceptance and willingness to pay (WTP) studies are limited. This paper investigates consumer’s acceptance, purchase intention, preference and the factors influencing consumers’ willingness to pay a premium price for iodine biofortified tomato fruits in Abeokuta, southwest, Nigeria. The study collected primary data from a sample of 240 respondents. The data were analyzed by descriptive statistics and Contingent Valuation Method (CVM). The results show that respondents are willing to pay a premium price of 72% for biofortified tomato fruits. The results show that the bid price (p<0.05), prior knowledge (p<0.1), age (p<0.05), household size (p<0.01), health status (p<0.01) and income (p<0.01) were the significant factors influencing respondents’ willingness to pay. Therefore, efforts aimed at attracting and encouraging more consumers of iodine biofortified tomato fruits by policymakers, marketers and producers, should focus more on bringing down the price of the product. There is also need to increase awareness of this technology in order to increase access to information on iodine biofortified tomatoes in Nigeria.
