Effects of Soybean Processing Industries on Marketing Efficiency of Soybean Traders in Benue State, Nigeria

Burbwa. P. A et al., Burbwa. P. A et al.,
2019 International Journal of Agricultural Science and Research  
The study focused on assessing the effects of soybean processing industries on marketing efficiency of soybean traders in Benue State, Nigeria. A multi-stage random sampling technique was used in selecting respondents for the study. A total of 239 soybean traders from six local markets and two soybean processing industries were selected. Data were collected with the use of a well structured questionnaire; the collected data were analyzed using both descriptive statistics such as frequency,
more » ... ntages, and mean while inferential statistics such as marketing efficiency index, and quantile regression was also used. The result revealed that the mean age of soybean traders was 43 years, while soybean marketing is predominantly carried out by males (81.2%) and married people (81.6%). Furthermore, result revealed majority (89.5%) were fully engaged in the business as their major source of income was derived from soybean marketing, with average years of experience being 11 years. The average household size was 7, with majority (88.7%) of the traders generating less than N500,000 annually from soybean marketing. Also result indicated soybean traders selling to the processing industries were more (758.09%) efficient than those selling in the local markets (479.06%). The study further established that processing industries exert a positive and significant effect (ranging from 223.638 to 276.503 depending on the quantile) on marketing efficiency of soybean traders. Further, education (15.549), years of experience (11.126), household size (15.018), annual income (0.0002) and market information (350.100) had a significant effect on marketing efficiency. The study recommends increased awareness targeted especially at large households, high income generating households, traders with some level of formal education to encourage soybean processing industrial market participation as its prospects for higher marketing efficiency is glaring. Also barriers of entry into local markets existing in the study area should be removed to encourage and attract more participation in the markets.
doi:10.24247/ijasrjun20191 fatcat:r3liczbe3jc7xg5bu3xbfhnj4u