Economic Analysis of Irish Potato (Solanum tuberusum) Marketing in Metropolitan Markets of Bauchi, Bauchi State, Nigeria
U. E. Umoffia *
Department of Agricultural Economics and Extension, Abubakar Tafawa Balewa University, Bauchi, Nigeria.
U. K. Iroegbute
Department of Agricultural Economics and Extension, Federal University Kashere, P.M.B 0182, Gombe State, Nigeria.
T. M. Barnabas
Department of Agricultural Extension and Rural Development, Federal University of Technology, Minna, Nigeria.
J. A. Nandi
Department of Agricultural Economics and Extension, Federal University Kashere, P.M.B 0182, Gombe State, Nigeria.
J. N. Akeweta
Department of Agricultural Economics and Extension, Federal University Kashere, P.M.B 0182, Gombe State, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
Aims: This paper evaluates the economic analysis of Irish Potato (Solanum tuberosum) marketing in the metropolitan markets of Bauchi State.
Study Design: A sample random sampling technique was used in selecting eighty (80) respondents (30 wholesalers and 50 retailers).
Place and Duration of Study: The study was done at Bauchi State, Nigeria.
Methodology: Questionnaire was used to collect data on the socio-economic characteristics of the marketers and other information on cost/return from the respondents. It was however complemented with oral interviews.
Results: The results shows that the enterprise is a profitable venture in the metropolitan markets of Bauchi with a Benefit Cost Ratio (BCR) of (1.84) Yelwa Tudu market compared to other markets, while acquisition cost constitutes the highest proportion of the total cost of marketing potato. The majority of the marketers were female (57.75%) with 70% of the total respondents falling within the age bracket of 30-50 years. Majority of the marketers had a marketing experience of 1-10 years (58.73%). Also 70% of the marketers were married and 57% started their business with personal savings.
Conclusion: The present study identified different challenges in Irish potatoes production and marketing in Bauchi State, Nigeria.
Keywords: Economic analysis, metropolitan markets, benefit cost ratio, Solanum tuberusum.