Market Performance of Categorized Soybeans Marketers in Benue and Nasarawa State, Nigeria

Abstract

Analysis of market performance among soybean marketers in Benue and Nasarawa States was aimed at assessment of market performance in the study area. Purposive and multi-stage sampling was used. The two states were stratified into three agricultural zones each. Secondly, 30% and 38% of soybeans marketers were selected randomly selected from each zone of Benue and Nasarawa States respectively. 25% of the categorized soybeans marketers (producer-marketers, wholesalers, retailers and small-scale processors) were selected. This gave the total of 481 respondents. Data were collected through structured questionnaire and analyzed using descriptive statistics. The study revealed that most marketers were between the age of 41 and 60 years with average age of 39.99 year for small-scale processors, 44.06 years for wholesalers, 39.71 years for retailers and 42.77 years for producer-marketers. 75.7% of small-scale processors and 59.5% of retailers were female, while 69.8% of wholesalers and 70.7% of producer-marketers were male. Average years spent in school was 8.36 years; marketing experience was 9.96 years. Soybean producer-marketers were the best performing of the categorized marketers with average profit of N20,527.62 per 100kg of soybeans and N182,250.22 per annum on soybeans sold. Soybean wholesalers were the second in terms of performance with average profit of N4,756.23 per 100kg of soybean and N76,309.81 per annum. However, soybean small-scale processors and retailers recorded low in terms of performance with average profit of N1, 470.29 per 100kg or N7, 292.35 per annum for small scale processors and average profit of N1,351.89 per 100kg or N6,653.60 per annum for soybean retailers. ANOVA and Post Hoc test revealed that there was significant difference in performance among the categorized soybeans marketers in terms of profit per bags, profit per annum, total cost expended and total sales value. This difference in performance was more pronounced between soybean producer-marketers and other categories of soybean marketers. The study recommends for more investment by farmer, producers and marketers in soybean business in other to enjoy the benefit of the practice. The government should make soybeans marketing and processing attractive by provision of regular supply of electricity, water and processing facilities. It also calls for the provision of subsidy such as fertilizers, improved seeds and agrochemicals by government and NGOs.