Buying Habits and Cross Price Elasticity of Demand for Certified Maize and Rice Seeds in Ondo and Ekiti States, Nigeria
Journal Title: International Journal of Agriculture Innovations and Research - Year 2018, Vol 6, Issue 5
Abstract
The study examined the buying habits; identified reasons for growing certified maize and rice seeds and estimated the cross price elasticity of demand for certified maize and rice seeds in Ekiti and Ondo states. This study used a multi stage random sampling techniques to collect data from 196 maize and rice growers. Descriptive statistics and the coefficient of cross price elasticity were applied to estimate and analyse the data. Results showed that higher yield per hectare, early maturity; resistant to diseases, better consumer preference and taste were major reasons for growing certified seeds. Six buying habits were identified and examined namely: (1) buying the quantities needed at the time of planting every year; (2) buying quantities in excess of immediate requirement and storing them for subsequent years; (3) buying annual requirements of the seeds a few weeks to the planting season; (4) making forward contracts for the supply of seeds needed at planting period; (5) buying little quantities of certified seeds and supplementing with traditional seeds and (6) buying quantities needed in one season and planting the progenies for subsequent season before making fresh demands. The results of cross price elasticity showed that certified maize and rice seeds were substitutes and complementary commodities.
Authors and Affiliations
Foluso Osundare, et al.
Keywords
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