Analyzing the profitability of taro (Colocasia esculenta L.) farming in North Central, Nigeria

Abstract

This study analyzed the profitability of taro farming in North Central, Nigeria. A simple random sampling design was used to select 220 taro farmers based on a well-structured questionnaire. The data were analyzed using descriptive statistics, farm budgetary technique, and depreciation of assets, financial analysis, multiple regression analysis, and Kendall’s coefficient of concordance. The average age and farm experience of taro farmers were 42 and 10 years, respectively. The results show that the mean total cost of taro production per hectare was 410.442$, while the mean total revenue was 1066.67$ indicating a substantial positive margin. The calculated t-value of (112.14) was greater than the tabulated t-value (1.96) at 5% level of significance, this implies that taro production was profitable in the study area. The profitability analysis further shows a gross margin of 827.25$ and a net farm income of 656.22$, reflecting a rate of return on investment (ROI) of 1.596. Despite the high profitability, variation in returns SD = 87,602 relative to cost SD = 42,594 suggest disparities in the efficiency and access to productive resources. Age, experience, education, and farm size were significant factors influencing the net farm income of taro farmers. These findings underscore the economic potential of taro as a food security and income generating crop in Nigeria. The study recommends strengthening agricultural input support programs through access to inputs, use of resistant varieties, enhancing extension service delivery system and improving market infrastructure, value addition to sustain profitability among taro farmers.