Economic Analysis of Vegetable (Telfairia Occidentalis Hook F.) Production among Farming Households in Ibiono Ibom Local Government Area of Akwa Ibom State, Nigeria. (Published)
The study analysed the production of Telfairia occidentalis among farming households in Ibiono Ibom Local Government Area of Akwa Ibom State. Data for the study were obtained from 90 vegetable farmers (Telfairia occidentalis) farmers in the area using a 2 – stage sampling procedure and analysed using descriptive statistics, multiple regression and budgeting technique. Results showed that 66.7 percent of the respondents were aged between 31 – 50 years; 72.2 percent were married; 53.3 percent had farming experience of about 9 years and 53.3 percent had household sizes of about 6 – 10 persons. The result of multiple regression showed that age, farming experience, cost of fertilizer and the cost of Telfairia occidentalis seeds were factors that affect vegetable (Telfairia occidentalis) production in the study area. The cost and returns analysis indicated that the fixed cost constituted 79.68 percent of the total cost of vegetable, while variable cost constituted 20.32 percent. On the average a farmer in the study area incurred a total cost of N30,857.74 in the production of Telfairia occidentalis and had a total revenue of N44,005.55 giving a net income of N13,147.81 per farmer. The profitability ratios RRI%, RRVC% and OR were found to be 42.6, 309.71 and 0.14 respectively, indicating that vegetable production was profitable in the area.
Keywords: Fixed cost, Fluted Pumpkin, Profitability, Return on Investment, Variable cost