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Profitability Analysis of Crayfish Marketing in South-South, Nigeria
Abstract
This study analyzed the profitability of crayfish marketing in the South-South states of Nigeria. The specific objectives of the study include to: estimate the profitability of crayfish marketing; examine the factors influencing gross margin in crayfish marketing; and describing the constraints to crayfish marketing in the study area. A well- structured questionnaire was used to collect data from (120) respondents through multi-stage sampling techniques. Data were analyzed using gross margin formulae, an ordinary least square model and a four-point likert type rating scale. The result showed that the total gross margin realized by crayfish marketers was N2,748,650 in the study area. The major factors influencing the gross margin of crayfish marketers were age, marketing experience, market levy, labour cost and shop rent. The marketers adjudged unstable prices, high cost of crayfish, too many middlemen, scarcity of fish, transportation and inadequate storage facilities as major constraints to crayfish marketing in the study area. Young people should be encouraged to go into crayfish marketing as this will reduce unemployment in the country while the involvement of too many middlemen in the crayfish marketing chain should be discouraged so as to increase the profitability of crayfish marketers in the study area.
