EFFICIENCY OF RESOURCE ALLOCATION AMONG COCOYAM (colocasia esculenta) PRODUCERS, IN IMO STATE, NIGERIA

AUTHOR: OKAFOR, ROSELINE MGBORE (MSc)

DEPARTMENT: AGRICULTURAL ECONOMICS

AFFILIATION: FEDERAL UNIVERSITY OF TECHNOLOGY, OWERRI

This study analysed the allocative efficiencies of farm resources employed by cocoyam farmers in their course of production. This was aimed at adjusting the pattern of use of these farm resources in order to increase productivity of cocoyam and enhance food security. This study is based on 75 randomly selected cocoyam farmers from the list on farmers who cultivated cocoyam as the major crop during the period of study. Validated questionnaire was used to collect data on; the socio-economic characteristics of farmers, cocoyam production/farming system, the quantities of inputs, the costs and returns of the production inputs and other relevant information. The data were analysed using descriptive statistics, Cobb-Douglas revenue function. The result of the analysis indicated that the mean age of the farmers was 46.83 years. Farming was their primary occupation. Land ownership was by inheritance. The result further revealed that 92% of the farmers planted on mounds. The regression analysis result showed that cocoyam setts, fertilizer, farmland and farm implements were significant in increasing the total revenue of farmers; with R2 = 0.8317. The tests of hypothesis indicated that farmers attained efficiency in the use of cocoyam setts, fertilizer, labour, and farm implements. The major constraints to cocoyam production were lack of credit and poor storage of cocoyam. Hence policies and programmes should focus on improving the farmers’ access to credit. Also storage facilities should be provided to reduce the storage loss.

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