ABSTRACT
The study looked at the economic analysis of okra production in Ovia North East Local Government Area of Edo State, Nigeria. The specific objectives were to describe the socio-economic characteristics of okra farmers, estimate the cost and return of okra production, examine the determinants of output in okra production and identify the constraints faced by farmers in the study area. Data was collected using a well-structured questionnaire. Total of 120 respondents were obtained through a simple random sampling of 24 respondents in 5 communities. Data were analysed using descriptive statistic, such as frequency count, percentage, and mean. Inferential statistics such multiple linear regression and gross margin, and net farm income. The results of the analysis shows that majority (73.3%) of the respondent were male while were(26.7%) females, majority (36-45%) of the respondent fall within age bracket of 26-35 years and showing that farmers are within their active age. Also majority (82.5%) of the respondents were married, majority(50.8%) of the respondent have a household size of between 7-11, majority(62.5%)of the respondent engage in farming. The cost and returns analysis results showed that okra production was viable and profitable in the study area: Total Variable Cost was N7,790,300, Total Fixed Cost was N 22,510,500, providing a Total Cost of N 30,300,800, Total Revenue of N 48,700,000, with Gross Margin of N 40,910,000 and Profit of N 18,399,200 respectively. The results Multiple Regression Analysis Production Function showed that 42.8% variation in okra output was due to cost of 12 labour, farm size, storage cost of chemicals, and cost of okra seeds. The significant factors affecting the cost of okra production are cost of okra seeds and storage cost. The results further indicates that the major popular constraints to okra production are poor price of okra, lack of capital, scarcity of labour, poor access to credit, low income of farmers. It was recommended that farmers should organize themselves so as to have some market power that will enable them to bargain for relatively higher and more remunerative prices.
