Profit Efficiency of the Rice Milling Industry and Sustainability of the Rice Value Chain in Nigeria - Oluwasogo Dammy Abegunrin, Fatai Abiola Sowunmi - Vita e Pensiero - Articolo Rivista internazionale di Scienze Sociali

Profit Efficiency of the Rice Milling Industry and Sustainability of the Rice Value Chain in Nigeria

newdigital Profit Efficiency of the Rice Milling Industry and Sustainability
of the Rice Value Chain in Nigeria
Article
journal RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI
issue RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2021 - 3
title Profit Efficiency of the Rice Milling Industry and Sustainability of the Rice Value Chain in Nigeria
Authors ,
Publisher Vita e Pensiero
format Article | Pdf
online since 11-2021
doi 10.26350/000518_000074
issn 0035-676X (print) | 1827-7918 (digital)
€ 6.00

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Consistent profit making is a factor that sustains investment and encourages growth in business. This study was prompted by the need to examine the performance of the rice milling industry in Southwest Nigeria based on profit  efficiency and reveals that the annual cost of labour and energy incurred by rice mills is high. The percentage of installed capacity utilized was 56.9% in the study area and the average profit efficiency was low (39.0%), with no  significant variation among states (p>0.05). The state of Ekiti showed the highest (49.2%) profit efficiency, while Oyo had the lowest (15.5%). The age and milling experience of the manager/owner and the per day milling capacity  of their machines were found to influence the profit efficiency of rice mills in the study area. Boosting rice production in order to enhance the capacity utilization of the rice milling industry and the adoption of strategies to reduce  labour costs are recommended to ensure the sustainability of the rice milling industry in Nigeria.

keywords

Rice value chain, Rice mill, Stochastic frontier approach, Profit efficiency.

Authors biography

Fatai Abiola Sowunmi, Department of Agricultural Economics, University of Ibadan, Ibadan, Nigeria. Email: fasowunmi@live.co.uk.
Oluwasogo Dammy Abegunrin, National Centre for Genetic Resources and Biotechnology, Moor Plantation, Ibadan, Nigeria. Email: sogo_dammy@yahoo.com.

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