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Aug 25, 2024Keywords:
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Main Article Content
Economics of Palm oil Marketing and Processing in Abia State, Nigeria
Abstract
The research explored the economics of palm oil marketing and processing in Abia State, Nigeria, with the following key objectives: analyzing the market structure, assessing the performance regarding costs and returns, and identifying factors influencing the marketers' net returns. Primary data was gathered through structured questionnaires administered to respondents. A multi-stage sampling method was employed to select 60 palm oil marketers. The data was analyzed using econometric models such as the Gini coefficient, net margin, marketing efficiency, and ordinary least squares regression. The market structure analysis revealed a Gini coefficient of 0.65 for palm oil, indicating high seller concentration and significant inequality. The Lorenz curve analysis further confirmed imperfect market competition with a 65% Gini coefficient. The market performance analysis showed a meagre fixed cost (0.66%) compared to variable costs. Factors affecting net returns included marketers' age, marital status, marketing experience, household size, selling price, cooperative membership, transportation cost, purchase price, and educational qualification. The study suggests providing adequate credit facilities and promoting cooperative membership to help marketers expand their sales.
