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Performance of Rice Market in Ebonyi State, Nigeria

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Abstract:

The study examined the performance of foreign rice market in Ebonyi State, Nigeria. Four major urban markets and 3 rural markets were selected from each of the 3 agricultural zones of the state, making 12 major urban markets and 9 rural markets. A total of 60 wholesalers and 60 retailers randomly sampled from the markets were used for the study. Simple statistical tools such as tables, means, percentages, benefit cost ratio, efficiency models etc were used in data analysis. From the result of the study, an average monthly net return of N48908.20 and N7434.77 were recorded by the sampled wholesalers and retailers, respectively, thus showing that the business is profitable. Also the marketing margin for wholesalers and retailers were 5.36 and 10.85, revealing a more acceptable marketing margin for wholesales compared to retailers with high marketing margin. This is a reflection of the proportion of the consumers income that goes to the marketing system. The study equally revealed a low marketing efficiency for the marketers, an indication of inefficiency. This is mainly due to the high marketing costs associated with rice marketing business. The benefit cost ratio shows that for every 1 invested into the business, a wholesaler gets, 1.11 while a retailer gets 1.16, showing that the business is viable. It is recommended that policies that improve rural infrastructure and marketing facilities be encouraged to reduce costs associated with the business. Also the local rice in the state showed be improved upon to compete favourably, thereby pulling down the price of foreign rice.

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