COST AND RETURN ANALYSIS OF SOYBEAN MARKETING IN SELECTED RURAL COMMUNITIES OF MUBI NORTH LOCAL GOVERNMENT AREA, ADAMAWA STATE, NIGERIA
DOI:
https://doi.org/10.64290/mmj-stme.v1i1.9Keywords:
Agricultural marketing, Soybean, Marketing, Cost and returns.Abstract
The study analyzed the cost and return of soybean marketing in selected rural communities of Mubi North Local Government Area of Adamawa State. A cross-sectional survey research design was used to collect data, with a questionnaire as the primary data collection tool. Data for the study were obtained from 120 soybean marketers selected through purposive and random sampling methods. The data were analyzed using descriptive statistics and financial analytical tools. The descriptive tools used included tables, frequency distributions, percentages, and mean values, and financial analytical tool was applied to analysis cost and return. Findings from the study indicated that soybean marketing in the area was largely carried out by middle-aged men and women who had moderate educational attainment and considerable marketing experience. However, Local markets and middlemen were the dominants of marketing channels, while cost and returns analysis showed that soybean marketing is profitable with an average gross margin of ₦34,633.18 and a gross ratio of 0.58. The major problems encountered by soybean marketers included insufficient capital (94.2%), high cost of transportation (76.7%), unstable market prices (66.7%), inadequate storage facilities (56.7%), and exploitation by intermediaries (50%). The study concluded that soybean marketing is a viable and profitable enterprise in the selected rural communities of Mubi North but constrained by infrastructural, financial, and institutional challenges. It recommends improving access to credit, provision of modern storage facilities, investment in rural road infrastructure, establishment of reliable market information systems, and strengthening of cooperatives to enhance bargaining power.
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