Economic Analysis of Fluted Pumpkin Production in Kolokuma/Opokuma Local Government Area of Bayelsa State, Nigeria.
Publication Date: 13/08/2024
Author(s): Nimiye C. Morgan , Prince E. Kainga, Victor A. Chukwu , Solomon Ibe.
Volume/Issue: Volume 7 , Issue 3 (2024)
Abstract:
The study examines the economic analysis of fluted pumpkin production in Kolokuma/Opokuma Local Government Area of Bayelsa State, Nigeria. A structured questionnaire was used to obtain the required information from the fluted pumpkin farmers. Both descriptive and inferential statistics such as frequency, percentages, mean, stochastic frontier production and budgetary model were used. The results indicate that married female farmers made up the majority of the 38.5% of farmers, with individuals between the ages of 31 and 40 on average. The variables that increased the fluted pumpkin technical efficiency were age, education level, and agricultural experience, according to the stochastic model. Age, farm experience, and transportation all had a significant impact on the production of fluted pumpkins at different probability levels. The total cost incurred was ₦703,453.07. The returns from the study amounted to ₦1,146,295.37, thereby, making the Net farm Income ₦442,841.64. The rate of return on investment (ROI) was 0.65. The return on investment of 0.65 indicates that every N 1.00 naira invested returns N 0.65 to the enterprise. This is an indication of high return. The study identified that inadequate credit facilities, high rate of flooding, insufficient storage facilities, lack of labour/high cost of labour and little or no capital to start were the major problems of fluted pumpkin farmers. It was therefore recommended that the government provide farmers the mean of accessing reasonable price for farm input at the appropriate time.
Keywords:
Technical efficiency, profitability, fluted pumpkin production, Kolokuma/Opokuma, Translog stochastic Production Model.
