ECONOMIC ANALYSIS OF PRICE DIFFERENTIALS AND PROFITABILITY OF PALM OIL MARKETING IN OSHIMILI NORTH L

The study's major goal was to determine the price difference between the rural and urban markets throughout harvest season and after storage season. The second critical goal was to figure out how profitable palm oil was following the storage season. Structured questionnaires were used to collect data, which were carefully administered to respondents. The cost and return model and descriptive statistics were used to examine the data. In the selection of 32 palm oil producers and marketers, the purposive selection method was used. The survey found that people with an average age of 40 years and 37 years and 6 months were predominantly involved in palm oil production and marketing. Due to the arduous nature of the task, males were largely involved in palm oil production, while females were mostly involved in It's all about marketing. Both producers and marketers were illiterate, with a moderate home size and 10 and 11 years of experience in the palm oil industry, respectively. Prices of palm oil were cheaper in a rural market during harvest season than after storage season, according to the research. The difference in price/revenue was N6,250, resulting in a profit of 46.3 percent. After storage season, the benefit-cost ratio was 1.32, indicating a profit of N0.32 for every N1 invested in the palm oil marketing industry. A large profit disparity was discovered during harvest and following storage season, suggesting that marketers who store palm oil made more money than palm oil growers. Palm oil producers should join co-operatives, according to the report, so that enough of their resources can be pooled.

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