Analysis of Profitability and Factors Determining Cocoyam Production in Enugu State, Nigeria.

Abstract

The study analyzed the profits and factors involved in cocoyam production in Enugu State. Three local governments were randomly selected for this research namely Awgu, Udi, and Aniri LGAs. From each of these local governments, four communities were randomly selected and in each of these communities, ten (10) cocoyam farmers were also randomly selected making a total of forty (40) farm- ers for each local government area and a total of one hundred and twenty re- spondents for the study. A well-structured questionnaire was employed to extract primary data from the farmers and a focused group discussion was also conducted to get information from the farmers. It was found that cocoyam production enter- prise in the study area was male-dominated (67.5%) with the majority of the farmers interviewed within the age bracket of 31-50years (81.6%). Those with secondary school levels of education were the highest (29.2%) and most of the farmers were also married (52.5%). Those having farming experience of about 6- 15 years (53.4%) were the majority in the study area. The budgetary analysis clearly showed that cocoyam production as an enterprise was profitable giving back ₦2.08 for every naira spent. The regression analysis revealed that credit access, farming experience, extension service, labour and land size explained about 74.4% of the variation in the quantity of cocoyam production. Credit ac- cess, farming experience, extension service and labor were all found to be posi- tively significant, hence increase in all these variables increases cocoyam produc- tion. High cost of production, fluctuating prices of produce, sourcing for farm labour and weed problem were all major constraints facing the cocoyam farmers in the study area. It is recommended that loans and grants and all other production inputs needed for cocoyam production be provided at a very subsidized rate in every respect to help these farmers acquire these inputs as it will help increase their farm output in cocoyam production in the study area.