Pricing and operational efficiencies in the livestock feed market in Ondo State, Nigeria

The Nigerian commercial poultry sector is dependent on commercial feeds. Evaluation of the operational and pricing efficiencies of poultry feed marketing is essential for improving efficiencies in the feed industry and lowering the price of poultry products. A multistage sampling technique was used to select the firms studied. Tools used to analyze data collected included index of pricing and operational efficiencies; and regression analysis. The firms studied handled about N251,870,000 of feed per annum, had an annual Inventory Carrying Cost (ICC) of N4,587,762 and an average ICC of N114,694 per firm. The Marketing Costs (MC) for all the firms was N16,813,860 per annum while the average MC was N420,347. Major contributors to ICC were storage; handling and security costs while storage, transportation and capital costs were major contributors to MC. Efforts to minimize costs should therefore be focused at reducing transportation costs and optimal utilization of storage space. The Average Marketing Costs (AMC) declined with increase in quantity marketed (QM) while unit profit increased with QM. Firms therefore need to increase QM. Marketing Margin (MM) and MC were significantly different from each other. Also, QM was a significant explanatory variable of MM, implying that there was no pricing efficiency in the market. Relative efficiency increased with QM, suggesting that firms should strive to increase the quantity of feed marketed. The major contribution of this study is that it provides information on the components of marketing costs and size economies in the poultry feed industry in Ondo State, Nigeria.Poultry feed, Operational, Pricing efficiency, Marketing costs, Nigeria, Livestock Production/Industries,

Local knowledge and socio-economic determinants of traditional medicines' utilization in livestock health management in Southwest Nigeria

Smallholder livestock farmers in Nigeria utilize traditional medicines derived from medicinal plants (PMs) for the maintenance of their animals' health. This study was designed to determine the PMs used in the study area and their level of utilization by livestock farmers, compare the level of utilization of PMs across the three states surveyed and identify the socio-economic factors influencing farmer's utilization of PMs. Thirty-five PMs were identified. Farmers had considerable knowledge about the identified PMs but about 80.0% of them used the PMs to poor/moderate extent. There were statistical differences in the utilization level of PMs among the three states. Six socio-economic variables were found to be statistically significant in influencing PMs' utilization. Farmer's age, household size, distance to the nearest veterinary hospital/clinic and extent of travels, had positive effects while negative effects were exhibited by farm income and number of heads of livestock. It was concluded that there was considerable knowledge about PMs and that utilization of PMs varied between the three states. It was recommended that local knowledge of PMs be preserved in the study area through screening and documentation

Preparation and use of plant medicines for farmers' health in Southwest Nigeria: socio-cultural, magico-religious and economic aspects

Agrarian rural dwellers in Nigeria produce about 95% of locally grown food commodities. The low accessibility to and affordability of orthodox medicine by rural dwellers and their need to keep healthy to be economically productive, have led to their dependence on traditional medicine. This paper posits an increasing acceptance of traditional medicine country-wide and advanced reasons for this trend. The fact that traditional medicine practitioners' concept of disease is on a wider plane vis-à-vis orthodox medicine practitioners' has culminated in some socio-cultural and magico-religious practices observed in preparation and use of plant medicines for farmers' health management. Possible scientific reasons were advanced for some of these practices to show the nexus between traditional medicine and orthodox medicine. The paper concludes that the psychological aspect of traditional medicine are reflected in its socio-cultural and magico-religious practices and suggests that government should fund research into traditional medicine to identify components of it that can be integrated into the national health system

Structure, Control and Regulation of the Formal Market for Medicinal Plants' Products in Nigeria

There are informal and formal markets for medicinal plants' products in Nigeria. The formal market is subject to the national regulatory framework for Food and Drug Administration and Control. It is relatively new and underdeveloped. This study was designed to appraise this market with special emphasis on the market participants, market structure, marketing functions performed, conduct of sellers in the market and; standards and regulations to which the market is subject. Information used for this study was collected through personal interviews and interactions with key participants in the market; especially the officials of regulatory agency. The market structure was analysed in terms of the share of market controlled by participants and product types. Concentration Ratios (CR2 and CR4) were used to assess the market share. Marketing functions being performed were described in terms of the exchange, physical and facilitating functions while the conduct was described in terms of pricing and promotional strategies. The regulatory framework under which the market operates was appraised. The market was highly concentrated with a CR2 and CR4 of 58.5% and 80.8 %; respectively. Imported products accounted for only 12.3% of the market. The predominant modes of presentation of the product were capsule (41.6%) and liquid (36.2%). About 20.77% of the products were classified as multivitamins, 13.85% were antibiotics while 10.77% addressed sexual dysfunctional problems. These products were regulated under the Food and Drug Administration and Control (NAFDAC) decrees, 1993–1999. Only 2.3% of the products have received full registration status while the others were only listed

Pricing and operational efficiencies in the livestock feed market in Ondo State, Nigeria

The Nigerian commercial poultry sector is dependent on commercial feeds. Evaluation of the operational and pricing efficiencies of poultry feed marketing is essential for improving efficiencies in the feed industry and lowering the price of poultry products. A multistage sampling technique was used to select the firms studied. Tools used to analyze data collected included index of pricing and operational efficiencies; and regression analysis. The firms studied handled about N251,870,000 of feed per annum, had an annual Inventory Carrying Cost (ICC) of N4,587,762 and an average ICC of N114,694 per firm. The Marketing Costs (MC) for all the firms was N16,813,860 per annum while the average MC was N420,347. Major contributors to ICC were storage; handling and security costs while storage, transportation and capital costs were major contributors to MC. Efforts to minimize costs should therefore be focused at reducing transportation costs and optimal utilization of storage space. The Average Marketing Costs (AMC) declined with increase in quantity marketed (QM) while unit profit increased with QM. Firms therefore need to increase QM. Marketing Margin (MM) and MC were significantly different from each other. Also, QM was a significant explanatory variable of MM, implying that there was no pricing efficiency in the market. Relative efficiency increased with QM, suggesting that firms should strive to increase the quantity of feed marketed. The major contribution of this study is that it provides information on the components of marketing costs and size economies in the poultry feed industry in Ondo State, Nigeria

Structure, Control And Regulation Of The Formal Market For Medicinal Plants&Apos; Products In Nigera

There are informal and formal markets for medicinal plants’ products in Nigeria. The formal market is subject to the national regulatory framework for Food and Drug Administration and Control. It is relatively new and underdeveloped. This study was designed to appraise this market with special emphasis on the market participants, market structure, marketing functions performed, conduct of sellers in the market and; standards and regulations to which the market is subject. Information used for this study was collected through personal interviews and interactions with key participants in the market; especially the officials of regulatory agency. The market structure was analysed in terms of the share of market controlled by participants and product types. Concentration Ratios (CR2 and CR4) were used to assess the market share. Marketing functions being performed were described in terms of the exchange, physical and facilitating functions while the conduct was described in terms of pricing and promotional strategies. The regulatory framework under which the market operates was appraised. The market was highly concentrated with a CR2 and CR4 of 58.5% and 80.8 %; respectively. Imported products accounted for only 12.3% of the market. The predominant modes of presentation of the product were capsule (41.6%) and liquid (36.2%). About 20.77% of the products were classified as multivitamins, 13.85% were antibiotics while 10.77% addressed sexual dysfunctional problems. These products were regulated under the Food and Drug Administration and Control (NAFDAC) decrees, 1993-1999. Only 2.3% of the products have received full registration status while the others were only listed

Pricing and operational efficiencies in the livestock feed market in Ondo State, Nigeria

The Nigerian commercial poultry sector is dependent on commercial feeds. Evaluation of the operational and pricing efficiencies of poultry feed marketing is essential for improving efficiencies in the feed industry and lowering the price of poultry products. A multistage sampling technique was used to select the firms studied. Tools used to analyze data collected included index of pricing and operational efficiencies; and regression analysis. The firms studied handled about N251,870,000 of feed per annum, had an annual Inventory Carrying Cost (ICC) of N4,587,762 and an average ICC of N114,694 per firm. The Marketing Costs (MC) for all the firms was N16,813,860 per annum while the average MC was N420,347. Major contributors to ICC were storage; handling and security costs while storage, transportation and capital costs were major contributors to MC. Efforts to minimize costs should therefore be focused at reducing transportation costs and optimal utilization of storage space. The Average Marketing Costs (AMC) declined with increase in quantity marketed (QM) while unit profit increased with QM. Firms therefore need to increase QM. Marketing Margin (MM) and MC were significantly different from each other. Also, QM was a significant explanatory variable of MM, implying that there was no pricing efficiency in the market. Relative efficiency increased with QM, suggesting that firms should strive to increase the quantity of feed marketed. The major contribution of this study is that it provides information on the components of marketing costs and size economies in the poultry feed industry in Ondo State, Nigeria.Poultry feed, Operational, Pricing efficiency, Marketing costs, Nigeria, Livestock Production/Industries,

AAB BIOFLUX Advances in Agriculture & Botanics- International Journal of the Bioflux Society Effect of property rights and land management practices on crops productivity among farmers in Oyo State, Nigeria

Abstract. This study analyzed the effect of property rights and land management practices on crops productivity among farmers in Oyo State, Nigeria. Multi-stage sampling techniques were used to select a total number of 250 farmers in the study area. A production function based on transcendental logarithmic model was used to capture economic and land management variables considered. Also, the determinants of input use and land management practices were investigated via the use of logit model. The results showed that the mean age of farmers is 46.1 and more than 84 percent took farming as their main occupation, 83.3 percent of the farmer's household members were literate at primary level and 16 percent of the farmers do not actually own the land they cultivated. In terms of intensity of cultivation, the Rutherberng value of 0.589 showed that farming system practiced in the state was moving towards permanent cultivation under the natural fallow management system. Furthermore, Logit analysis showed that age, farm size, income, extension agent, land price and risk bearing have significant effect on land management practices and crops productivity. The study therefore suggested some recommendations which include: introduction of better land management practices, provision and use of land augmenting material that would ensure land management quality maintenance and input use productivity; introduction of price support program by the government. Also, government should formulate and implement economically viable land reforms policy to ensure that the farmers feel emotional attachment to the land they cultivate