Profitability Analysis of Plantain Production in Ondo East Local Government Area of Ondo State, Nigeria

Abstract

The study looked into the profitability of plantain production in Ondo East Local Government Area of Ondo State, Nigeria. Although it is grown by smallholders in the study area, there were great potentials for the crop in that all parameters showed that it was profitable. The Gross Margin (GM) per hectare was 360536 Naira while the Net Farm Income or Profit was 288413 Naira per hectare. The Benefit Cost Ratio was 2.28 and Return on Investment was 1.28. Findings showed that respondents were mostly males, married, averagely educated and fell within economic viable age range. Most farmers planted Agbagba (87.5%) which is said to be the most dominant and much sought after by consumers, got their planting materials from previous year production (62.5%) and practiced de-suckering. Age, family size, farm size and plantain sole cropping had positive impact on the Net Farm Income of the respondents, while they had the problems of inadequate funding and lack of extension agents. The study concluded that there was the need for policy makers to consider and make adequate policy preparations for plantain so that Nigeria can join other plantain exporting nations and that the crop can earn the ever scarce foreign exchange for Nigeria.