Econometric Analysis of Demand for Beef, Fish and Eggs in Dekina Local Government Area of Kogi State, Nigeria
[1]
Mohammed Ibrahim Adah, Department of Agricultural Economics & Extension, Faculty of Agriculture, Kogi State University, Anyigba, Nigeria.
[2]
Eleche Unekwuojo Hope, Department of Agricultural Economics & Extension, Faculty of Agriculture, Kogi State University, Anyigba, Nigeria.
Overtime malnutrition has become the world’s most apocalyptic problem and is inextricably connected to protein deficiency. Against this backdrop, this study focused on econometric analysis of demand for beef, fish and eggs in Dekina Local Government Area of Kogi State, Nigeria. A total of 120 respondents sampled in a cross sectional survey with the aid of a questionnaire was used for the study. Descriptive and inferential statistics were used for data analysis. Results indicated a mean age of 43 years, household size of 7 members, 11 years of formal education and a mean monthly income of N 53, 575 for the respondents. The OLS estimates revealed that while price and income were the major factors affecting demand, price relate negatively to quantity of Beef, Fish, and Eggs demanded portraying the law of demand, income and education relates positively. Family size, farming occupation, nonfood expenditure and distance to market correlate negatively. An R2 of 0.998, 1.000, and 0.999 shows that 99.8%, 100.0%, 99.9% of variation in the quantity of Beef, Fish and Eggs demanded were explained by the exogenous variables. The results of own price, cross price and income elasticity revealed that while beef and fish were price elastic, eggs was price inelastic but there are close substitutes and are normal goods. Additionally, price flexibility of demand for beef, fish and eggs indicated that they are normal goods and are price flexible. In order to slenderize protein deficiency, policies geared towards increment in salaries and wages of workers to stimulate demand, reduction in income inequality gap, a boost in livestock production and an efficient price policy for the commodities is advocated.
Demand, Econometrics, Beef, Fish, Eggs, Price Elasticity, Price Flexibility
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