Prior to ramping up advocacy for palm kernel nut processing as a means to diversify livelihood source, it becomes germane to look into the economic analysis of palm kernel nut processing as a way of proffering empirical based evidence on the status of the enterprise. The study was conducted in Ipokia Local Government Area, Ogun State, Nigeria. To select 40 palm kernel processors for the study, a multistage sampling approach was used. The study employed both descriptive and inferential statistics. The findings showed that the majority of processors were engaged in the extraction of palm kernel cake and oil from palm kernel nuts. Profit realized from the extraction of oil and cracking of palm kernel nut per ton per week was ₦57, 378.66 (USD 145.26) and ₦24, 775.11 (USD 62.72) with a return on investment of 1.37 and 1.32 respectively. Thus, the enterprise is profitable. In addition, the regression analysis showed that household size (p<0.05), processing experience (p<0.01) and processing stage (p<0.05) significantly influenced the profit of the palm kernel nut processors. The study therefore recommends effort be made to attract investors to support the smallholders in order to improve their livelihood and export funding.
Prior to ramping up advocacy for palm kernel nut processing as a means to diversify livelihood source, it becomes germane to look into the economic analysis of palm kernel nut processing as a way of proffering empirical based evidence on the status of the enterprise. The study was conducted in Ipokia Local Government Area, Ogun State, Nigeria. To select 40 palm kernel processors for the study, a multistage sampling approach was used. The study employed both descriptive and inferential statistics. The findings showed that the majority of processors were engaged in the extraction of palm kernel cake and oil from palm kernel nuts. Profit realized from the extraction of oil and cracking of palm kernel nut per ton per week was ₦57, 378.66 (USD 145.26) and ₦24, 775.11 (USD 62.72) with a return on investment of 1.37 and 1.32 respectively. Thus, the enterprise is profitable. In addition, the regression analysis showed that household size (p<0.05), processing experience (p<0.01) and processing stage (p<0.05) significantly influenced the profit of the palm kernel nut processors. The study therefore recommends effort be made to attract investors to support the smallholders in order to improve their livelihood and export funding.
Primary Language | English |
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Subjects | Farm Enterprises, Sustainable Agricultural Development |
Journal Section | RESEARCH ARTICLE |
Authors | |
Early Pub Date | January 21, 2024 |
Publication Date | April 1, 2024 |
Submission Date | July 21, 2023 |
Acceptance Date | November 12, 2023 |
Published in Issue | Year 2024Volume: 27 Issue: 2 |
International Peer Reviewed Journal
Free submission and publication
Published 6 times a year
KSU Journal of Agriculture and Nature
e-ISSN: 2619-9149