Economic analysis of cassava production in Akoko District of Ondo State, Nigeria

Abstract

The study evaluated the economic analysis of cassava production in Akoko area of Ondo State, Nigeria. Data were collected using a well-structured questionnaire and interview schedule. Descriptive statistics, budgetary techniques and multiple regression model were employed for the data analysis. The results showed that the majority (72.7%) of cassava farmers were male households and they were within the active age group given a mean of 50years with a mean household size of 5 persons. About 80.7% of the farmers were married and had an average farming experience of 13years while about 82.0% of them had formal education. The cassava farmers had an average farm size of 1.9ha and many (62.7%) of them started their farming business with their personal income. The results of budgetary analysis revealed that the net farm income was ₦149,101.92 with the return on investment of ₦1.5. This implies that for every N1 invested in the business, there is a return of 50k. The result of the multiple linear regression showed that agrochemical, labour, farm input, and age were the major factors that had a significant influence on the profit of the cassava farmers. Again, inadequate capital for start-up, unstable price, and high cost of inputs were the main constraints faced by the farmers in the area. From the findings, there is a need for the cassava farmers in the study area to form a cassava farmer corporative to solve problems of accessibility to loan, resource allocation, dissemination of information and other challenges as this will increase their productivity and output.