Financial Analysis of Bee Honey Marketing in Ikwuano Local Government Area, Abia State Nigeria
[1]
Uduma K. K., Department of Agricultural Economics and Extension, Abia State University, Umuahia Location, Abia State, Nigeria.
[2]
Udah S. C., Department of Agricultural Economics and Extension, Abia State University, Umuahia Location, Abia State, Nigeria; Division of Resource Management, West Virginia University, Morgantown, West Virginia, U. S. A..
The study examined the profitability of bee honey marketing in Ikwuano Local Government Area of Abia State, Nigeria. Purposive sampling technique was used in the selection of 45 bee farmers. The data, collected by means of a well structured questionnaire, was analyzed using descriptive statistics such as mean, percentage and frequency distribution table. Regression analysis was also used to determine the factors that influenced profitability of the bee honey marketing in the study area. The result showed that the business is male dominated. Net return analysis showed that honey bee production in the study area was profitable posting gross margin and net income of N131,033.28 and N125,512.12 respectively. The multiple regression analysis using linear functional form as the lead equation showed that the entire significant variables (variable cost, quantity of honey and price of production) had positive influence on the profitability of commercial honeybee production in the study area. The research highlighted some of the major problems which include pest attack, inefficient processing and storage system, small scale production and inadequate capital. It is recommended that government should encourage bee farming through the provision of incentives such as credits to enable the farmer expand production and serves as poverty alleviation outfit. Extension service agents can be used to create awareness and educate women on the benefit of engaging in bee honey business. Bee farmers can form cooperative society. The benefit of this is large scale production which will introduce wholesalers and retailers back in the system. It will also broaden farmers’ capital based for business expansion.
Profitable, Marketing Share, Credit Incentive, Processing, Large scale Production
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