Economic Analysis of Value Addition by Soybean Processing Firms in Cross River State Central Agricultural Zone, Nigeria
Journal Title: International Journal of Agriculture Innovations and Research - Year 2018, Vol 6, Issue 6
Abstract
The increasing importance of soybean food in Nigeria calls for efforts to improve it processing. The study examined the economics of value addition by soybean processing firms in Cross River State Central Agricultural Zone, Nigeria. Specifically, the study examined: the value added by processing soybean, identified the constraints of small-scale soybean processing firms and made policy recommendations based on the findings. Data for the study were collected from a sample of 120 respondents. Results obtained indicated that the processing of 1kg of soybean into soymilk raised the value of soybean by ₦950 from ₦250 to ₦1200, while that of soyfour was raised by ₦750 from ₦250 ₦1000. The high value of processed soybean explains the profitability of soybean processing. The likert scale rating shows a strong perception of the processors on constraints to soybean processing for soymilk and soyflour, respectively with average ratings of 3.29 and 3.35. Insufficient capital, lack of credit facilities, inadequate power and water supply, high and multiple government taxes and levies and high cost of spare parts were the constraints that received very high perception of the processors. The following were the recommendations proffered: capacity building programmes should be provided to operators of processing firms so as to upgrade their operations and subsidized credit facilities should be provided to enable operators of processing firm’s access modern equipment for their operations.
Authors and Affiliations
Otu. I Ettah, et al.
Keywords
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