The economic analysis of beef marketing in Akure, Ondo State
AbstractThis study examined the economic efficiency of beef marketing in Akure, Ondo State. In this regard, the different marketing function performed by the beef sellers were identified and evaluated. Also the size and different components of beef marketing costs and margins were determined. A total sample of 110 respondents were randomly selected from three markets in the study area. Descriptive statistics and some other mathematical computations were also carried out.The evaluation of the beef sellers marketing efficiency showed that they are highly efficient with average efficiency ratio of 0.85. Analysis of the size and different components of marketing costs and margins revealed that purchase cost and transportation cost constituted the highest share of the total marketing cost. The gross and profit margin analysis also showed that beef sellers had high margins. When the gross and profit margins were expressed as a percentage of total revenue, the average was found to be 22.62 and 14.41 per cent respectively.
(Af. J. of Livestock Extension: 2003 2: 61-66)