Abstract
This study assessed the structure and conduct of yam wholesale market in Efon Alaaye Local Government Area of Ekiti State of Nigeria. The primary data was collected with structured questionnaire and administered to yam wholesalers in the study area between 1995 and 2008. The study employed the use of descriptive statistics of frequency, and percentages. The study revealed that the capital required to enter the yam marketing industry in 2008 ranged between N25,000 and N100,000. There was no evidence of dominant firms, price collision or predatory pricing among the wholesalers and most traders sold their product according to the prevailing price in the market irrespective of the costs incurred. 100% each of the respondents expressed inadequate capital, high cost of labour, and high cost of transport while 85.7% expressed lack of storage facilities, and 71.1% competition from other firms as the problems encountered in the industry. Both formal and informal financial arrangement should be encouraged by the government and nongovernmental organization while the wholesalers too should endeavour to form themselves into cooperatives, they should reduce the quantity of yam kept in storage per unit of time, while research into techniques and economics of establishment and use of yam storage should be conducted. Government should improve rural road conditions all in an attempt to enhance marketing of yam and other agricultural products. Key words: Wholesalers, market structure, conduct.
Highlights
Yam (Dioscorea species) is a premium crop in Nigeria food system and Nigeria is the world’s largest producer with an aggregate annual output in excess of 50% of total world production of the 47.5 million tonnes of yam produced worldwide in 2000
The elements of structure and conduct (Table 1) of yam wholesale market have been used by Akinboro (1981) to evaluate the wholesale marketing of tomato in Ibadan, by Folayan (1987) to analyse marketing of yam in Itawure, Ekiti West Local Government Area of Ondo State, by Akinola (2003) to appraise gender factor in the marketing of Cocoa in Ondo State and by Folayan (2005) to analyse the economics, of Cocoa marketing in Ondo State and Ekiti States of Nigeria
Data collected on market structure included age in business, capital requirement, sources of capital, ownership structure, volume of operation and barrier to entry while that of conduct included information on opening duration, functional acts employment, buying practices, discount, pricing, mark-up, marketing outlets, selling practices, credit, advertising, spoilage, other issues and problems encountered in the industry
Summary
Yam (Dioscorea species) is a premium crop in Nigeria food system and Nigeria is the world’s largest producer with an aggregate annual output in excess of 50% of total world production of the 47.5 million tonnes of yam produced worldwide in 2000. More and Walsh (1966) made efforts to formulate elicit criteria of adequacy or optimality of markets They viewed a market as being adequate if its actual performance is not extremely detrimental with respect to several firm. The elements of structure and conduct (Table 1) of yam wholesale market have been used by Akinboro (1981) to evaluate the wholesale marketing of tomato in Ibadan, by Folayan (1987) to analyse marketing of yam in Itawure, Ekiti West Local Government Area of Ondo State, by Akinola (2003) to appraise gender factor in the marketing of Cocoa in Ondo State and by Folayan (2005) to analyse the economics, of Cocoa marketing in Ondo State and Ekiti States of Nigeria. Major sources of information for marketing decision have been know to spring from this level (Shepherd et al, 1976) and prices serving as guidelines for yam marketing appear to be generated from this level
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