Market Profile Analysis of Medicinal Plant Products Trade in Margibi County, Liberia

Abstract

Medicinal plants play a crucial role in African traditional medicine, particularly in Liberia, where they are used alongside Western medicine. For generations, traditional knowledge about plants utilization has empowered locals to develop a wide range of plant products to address the medical needs of their communities. Over time, this development has led to the emergence of trade in medicinal plants and plant products. The trade of medicinal plant products (MPP) significantly contributes to the local economy by providing income opportunities for many. This study was conducted in Margibi County with aims to profile the trade of MPP, their origins, peak sale times, and the socio-economic characteristics of traders. The research identified key participants in the supply chain as collectors, wholesalers, and retailers. Qualitative data was analyzed using narrative analysis. The study revealed that 34.375% of MPP originates from rural Margibi, 28.125% from Montserrado with the rest being from Bong, Grand Bassa, Nimba and Lofa counties. Women are the predominant traders in the MPP trade; representing 78.125% while men represent 21.875%. Businesses along the MPP supply chain earn low profit margins from the sale of these products due to several contributing factors. These factors include limited investment and inadequate record keeping of transactions. The study suggests policy initiatives should be put in place by relevant authorities to formalize the trade, and provide access to financial resources and services which are necessary to improving income levels and creating opportunities for greater investment in the MPP trade.