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Comparative Analysis of Foreign and Local Rice Demand in Ikwuano and Umuahia North Local Government Areas of Abia State, Nigeria
Abstract
Acomparative analysis of foreign and local rice consumption in Umuahia North and Ikwuano local government Areas of Abia state was undertaken in this study. A total of 93 rice consumers were selected using the simple random technique across the two local government areas. Data, which comprised of information on the socioeconomic characteristic and other relevant variables of interest, were collected using a well-structured questionnaire and personal interviews. The socio-economic characteristics were analyzed using descriptive statistics such as percentages and frequencies. The ordinary least square (OLS) multiple regression model was used to analyze the consumption functions of rice consumers. Also F –ratio as postulated by Chow was used to estimate the difference between foreign and local rice consumption. From the results obtained, the price of commodity (X1), price of substitute (X2), monthly income (X3) frequency of consumption (X5), marital status (X8), and total expenditure of household heads on other food items (X9), were significant and are important variables that affected the consumption of foreign and local rice in the study areas. Results showed Price elasticity of demand for rice to be elastic. Also price elasticity of demand for rice substitute is inelastic. More so, income as well as consumption elasticities of demand for rice were inelastic. The economic implication is that rice has become an essential commodity and its demand is not easily affected by fluctuation in price of substitute, income and frequency of consumption in study area. The study also showed that people in the study area consumed more foreign rice than local rice, an indication that foreign rice importation supercedes local rice production. The impact of this is detrimental to the Nation’s economy. The government can therefore stabilize her economy by regulating importation of goods and invest more in agriculture so as to encourage indigenous production more local rice of international Market standard. This will help the country meet with status of self-sufficiency.
Keywords: Comparative Analysis, Foreign Rice and Local Rice, Consumption
