IMPACT OF ECONOMIC RECESSION ON THE MARKETING OF PALM OIL

ABSTRACT

The goal of this research was to look into the impact of economic recession on the marketing of palm oil in Benin city, Edo State. Four research questions were posed to guide the investigation; How will the economic recession influence the production of palm oil? How will the economic recession affect the price of palm oil? How will the economic recession affect palm oil distribution rate? What is the importance of palm oil marketing during the economic recession? The descriptive survey method was used in this study, and 200 questionnaires which were the primary source of data collection was administered. The hypothesis were examined using multiple regression analysis. According to the findings of the study, Economic recession was seen to have a negative impact on the sales, production, and prices of palm oil. However the distribution rate wasn’t affected during that period. The study recommendations were that the state should reestablish palm oil farm land as this will significantly enable palm oil farmers cultivate more palm fruit, thus enhancing productivity in palm oil output. Palm oil farmers should also switch to larger scale of producing palm oil instead of the current small scale ownership.