Economic Potentials of Oil Palm Production and Machinery Use in UDI, Enugu State, Nigeria
Science Journal of Business and Management
Volume 3, Issue 5-1, September 2015, Pages: 16-20
Received: Jul. 18, 2015; Accepted: Jul. 20, 2015; Published: Aug. 27, 2015
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Authors
Bello R. S., Department of Agriculture & Bio-Environmental Engineering, Federal College of Agriculture, Ishiagu, Nigeria
Bello M. B., Department of Agricultural Economics and Management, Federal College of Agriculture, Ishiagu, Nigeria
Essien B. A., Akanu Ibiam Federal Polytechnic, Unwana, Afikpo, Ebonyi State, Nigeria
Saidu M. J., Department of Agriculture & Bio-Environmental Engineering, Federal College of Agriculture, Jalingo, Nigeria
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Abstract
The economic potential of oil palm production and machinery-use in Udi Local Government Area Enugu State, Nigeria has been investigated. Questionnaires, personal work and oral interview were used as means of information retrieval. Statistical tool were used in data analysis. Farm holding/ownerships are of three categories; Individual (small holding (68%)), communal (medium holding (23%)) and cooperative efforts (large scale holdings (9%)) from social groups and friends reduce economic cost on labour. A larger percentage of the small scale holders (40%) inherited the farm while (5%) claimed ownership of establishing the farm. About 20% operate on rental arrangements and 30% communally owned. The result of the profitability analysis in palm oil processing in the area showed an increased trend in profitability while factors like transport costs, high cost of plantation rentals, and poor extraction processes were most critical to inhabiting profitable palm oil processing in the area.
Keywords
Oil Palm, Returns, Production, Processing, Hectare
To cite this article
Bello R. S., Bello M. B., Essien B. A., Saidu M. J., Economic Potentials of Oil Palm Production and Machinery Use in UDI, Enugu State, Nigeria, Science Journal of Business and Management. Special Issue:Sustainable Entrepreneurial Developments in Agribusiness. Vol. 3, No. 5-1, 2015, pp. 16-20. doi: 10.11648/j.sjbm.s.2015030501.14
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