Economic analysis of pig production towards protein sufficiency and food security in the Niger Delta area, Nigeria
Paper Details
Economic analysis of pig production towards protein sufficiency and food security in the Niger Delta area, Nigeria
Abstract
The study was carried out to evaluate profitability and efficiency of pig production in the Niger Delta Area, Nigeria. A multi-stage random sampling technique was used in the selection of respondents for the study. Primary data were obtained with the aid of a well-structured questionnaire and were analyzed using descriptive and inferential statistics, cost and return analysis, and stochastic production frontier. The result showed that most of the pig farmers (51.9%) fell within age range 41-60years with Male farmers accounted for 69.4%. majority of Pig farmers 81.5% had formal education. The total variable cost incurred by the farmers amounted to the sum of N46629353.63 (73%) of total cost at N63721684.63 while total fixed cost was N17092331.00. Finding indicated that feeds cost accounted for about 85.2% which is the greatest variable cost. The result also showed that the Benefit/Cost Ratio of 1.5 with rate of return at N32114088.09 indicated that pig production is a profitable business enterprise. The stochastic frontier production function with Sigma square parameter (0.930) reflects variability in inefficiency levels across farms and the Gamma parameter (0.778), highlights the nature of inefficiency. The study recommended diversification of capital sources with capacity building on technical information for optimum profitability.
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