Soybean Production Performance and its Constraints in Saki East Local Government

Abstract

The importance of soybeans is not limited to only the supply of protein to the diet of
Nigerians but also contributes immensely to the economic development of rural farmers.
Therefore, this study investigated the economics of Soybean production and its
constraints in the Saki East Local Government Area of Oyo State, Nigeria. The Soybean
farmers were randomly sampled with the aid of structured questionnaires to elicit
needed variables. Data collected were analyzed using descriptive statistics (frequency
table, percentages, mean and standard deviation) and production performance
indicators. The mean age of the respondents was 40 ± 9.9 years. Most of the soybean
farmers were male with formal education. 98% had soybean farming as their secondary
occupation with farming experience of 8±2.6 years. 54% practiced mono cropping while
others practiced mixed cropping. The majority of the soybean farmers used their
personal savings in financing their soybean farm, 72% did not belong to any association
and 78% got their information from other farmers. The gross margin (GM) was
₦406,134.97 with a Net Farm Income of ₦394,675.17 and Benefit Cost Ratio (BCR)
of 1.34. The challenges encountered by soybean farmers include; herdsmen/cattle,
soybean planting, soybean threshing, access to land and finance. In conclusion, this
empirical research has provided evidence that soybean cultivation is a profitable venture
and constraints are highlighted. It is recommended that any prospective investors should
consider soybeans production and to improve performance, the constraints should be
addressed by the relevant stakeholders.