Asian Research Journal of Arts & Social Sciences

The study was on economics of cocoyam production in Anambra State. Data used were generated through structured questionnaire and interview schedules administered on 120 cocoyam farmers selected randomly from the study area. Net farm income analysis was used to capture the profitability of cocoyam production in the study area. Furthermore, ordinary least squares regression method was used to analyse the resource use efficiency data, subsequently the allocative indices of the farmers were derived and explained. Result shows that cocoyam production in the study area is profitable with average total revenue of N840,000, total cost of N408,608 and net farm income of N431,392. Result of the resource efficiency showed that farmers did not achieve optimum allocative efficiency in the use of the any of the resources. In general, the elasticity of production show that they were operating at increasing returns to scale.

The main problems to cocoyam production were poor access to credit, inadequate extension contact, high cost of inorganic fertilizer and high cost of labour. Among the recommendations made including; need for policy options that would enable farmers to employ more of the resources that were under utilized, while for over utilized resources, farmers should use less of the resource in their productions in order to achieve higher productivity. Furthermore, the need to enhance farmers’ access to; improved production inputs, credit through micro finance banks and adequate motivation of extension agent and among others were proffered.