Vol. 11(5), pp. 132-143, November 2023 , 2023.

ISSN: 2384-6151

https://doi.org/10.14662/ijebm2023150

 

 

Full Length Research

 

Analysis of the Characteristics, Behaviour, and Outcomes of Dry Maize Marketing in Ibadan, Oyo State, Nigeria

 

*1Olubunmi O. Alawode, 2 Olumuyiwa L. Makinde, Kolawole S. Oluwafemi3 and Rukayat A. Olaoye4

 

1,3,4Department of Agricultural Economics, University of Ibadan, Nigeria 2Department of Management and Accounting, Lead City University Ibadan, Nigeria 1busolaferanmi@gmail.com, oo.alawode@ui.edu.ng, 2olumuyiwamakinde@gmail.com 3kolawole.oluwafemi83@gmail.com, *4 Corresponding author: rukayatolaoye1803@gmail.com  

*4 Corresponding author: rukayatolaoye1803@gmail.com  

 

 

Accepted 10 November 2023

Abstract

 

This study examined the characteristics, behaviour, and outcomes of dry maize marketing in Ibadan, Oyo State, Nigeria. A two-stage sampling method was used to select 200 dry maize sellers, proportionate to size of the four big markets (Bodija, Orita-merin, Oje and Omi-Adio Markets) in Ibadan, which are known for their prominence in dry maize marketing. Primary data were collected using a structured questionnaire and analysed using descriptive statistics, the Gini Coefficient, Profit Margins, and Marketing Efficiency. A Gini coefficient of 0.5472 indicates a significant level of income inequality among sellers and high degree of market concentration. Most respondents (70%) obtained market information from their colleagues, 83% indicated that the selling price was determined through negotiation with buyers, and 96.6% were members of a Traders’ Association. On average, sellers had a monthly market margin of ₦47,827.50, gross margin of ₦17,636.00, net margin of ₦13,040.77, and an efficiency level of 167%, showing that the dry maize marketing in the study area is efficient and profitable. While dry maize marketing can be a lucrative venture, it is faced with challenges such as limited access to credit, inadequate road infrastructure, price instability, and low profit margins. To encourage competition and improved access to credit, government should implement policies that will reduce the concentration of market power among sellers.

 

Keywords: Market Concentration, Competition, Market Margins, Dry Maize, Marketing outcomes

 

Cite This Article As: Alawode, O.O., Makinde, O.L., Oluwafemi, K.S., Olaoye, R.A. (2023). Analysis of the Characteristics, Behaviour, and Outcomes of Dry Maize Marketing in Ibadan, Oyo State, Nigeria. Inter. J. Econ. Bus. Manage. Vol. 11(5), pp. 132- 143, November 2023