Profitability and Determinants of Edible Insects Marketing in Oji-River and Udi Local Government Areas, Enugu State, Nigeria

Abstract

The study examined the profitability and determinants of edible insects marketing and utilization in Oji-River and Udi Local Government Areas, Enugu State, Nigeria. Specifically, it described the socio-economic characteristics of the respondents, estimate the profitability of edible insect marketing and determined the influence of socio-economic characteristics of the respondents on net marketing income. Purposive sampling technique was used to select 120 respondents and data collection was on primary source using well structured questionnaire and were analyzed using descriptive statistics, enterprise budgeting, Shepherd-Futrell and multiple regression techniques. Finding on socioeconomic characteristics showed that majority of the marketers (35.83%) are within the age bracket of 41-50 years with mean age of 39% and there is female (80.83%) dominance in the enterprise. Profitability indicators such as; net marketing income (N,736,952.83), input cost (cost of harvesting and marketing) (N3,223,247.15), return on investment (N2.159), net return on investment (N1.15) and coefficient of marketing efficiency (0.463) proved the enterprise profitable. The implication of the net return on investment figures revealed that the marketers return N1.15 for every 1 naira invested in the business. Findings also indicated marketing efficiency level of 46.30%. It implies that the marketers are less efficient in marketing of edible insect. Age, gender, household size, other source of income and marketing cost significantly determined net marketing income realized by the edible insect marketers. However improvement in the marketing strategy which will benefit the harvesters/marketers and provision of modern storage and preservative facilities by the union and other relevant agencies for a longer period of time were recommended. Keywords: Profitability, determinants, marketing and edible insects.