Profitability of Cowpea Production in Osun State: Case Studies of Iwo, Ayedire and Ola Oluwa Local Governments
[1]
Nafiu G. O., Faculty of Agriculture, Bowen University, Iwo, Nigeria.
[2]
Ayandiji A. A., Faculty of Agriculture, Bowen University, Iwo, Nigeria.
[3]
Famuyide O. O., Forest Economics and Extension Department, Forestry Research Institute of Nigeria, Ibadan, Nigeria.
[4]
Jimoh K. A., Biomedicinal Research Centre, Forestry Research Institute of Nigeria, Ibadan, Nigeria.
[5]
Vincent C. C., Department of Agric Economics, Faculty of Agriculture, University of Ibadan, Ibadan, Nigeria.
This study estimated the profitability of cowpea production in Iwo, Ayedire, and Ola-oluwa local government arewas of Osun state. The data used were collected from the administration of questionnaire to 150 farmers randomly selected and was analysed using descriptive and cost and return analysis. The result shows that the farmers are majorly muslims (56%) and majority (76%) were males. The mean age of the farmers was 36years with majority of them (81%) having formal education. It was futher observed that majority (77%) were married with most of them (70%) having household size of 6-10persons. The average farming experience of the farmers is 15years where most of them (46%) had less than one (1) ha of farm. Majority of the farmers (64%) acquired their lands by inheritance. Furthermore, it was observed from the gross margin analysis that cowpea farmers obtained an average profit of #32,545.115 per season. The net profit margin was calculated to be 46.5%; it shows that for every one naira (#1) increase in output, there is 46.5% increase in the farmers net farm profit. This implies that cowpea production is profitable in the study area. Based on this findings, government should help provide land for large scale production to improve the livelihoods of the farmers.
Profitability Analysis, Cowpea, Budget, Gross Margin, Net Profit
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