Structure, Conduct and Performance of Crayfish Market in Ibadan Metropolis, Oyo State, Nigeria

Abstract

The study assessed the market structure, conduct and performance of Crayfish markets in Ibadan, Oyo State Nigeria.

Six (6) markets, where crayfish are predominantly sold were used in the survey. A multi-stage sampling procedure was used to select samples for data collection. A total of 50 crayfish sellers sampled were randomly selected from the six markets proportionate to the size and semi-structured questionnaires were used to collect data. Descriptive statistics, Gross margin analysis and Gini coefficient were deployed for data analysis. Analysis of the size and different composition of costs of marketing as well as margin revealed that purchase cost N25,000 (96%)  the highest share of the total marketing cost. Aleshinloye market has the highest gross margin of  N6,500. When the gross and profit margins were expressed as a percentage of total revenue, the average was found as 17.56 and 14.16% respectively. The crayfish marketing efficiency evaluation showed that they are highly efficient with an average efficiency ratio of 0.86. The Gini coefficient (0.77) showed that the market is an oligopoly.  Problems encountered include lack of finance among others. It was however recommended that inefficiency may be improved by creating some measures that will improve competition such as the provision of sufficient market space and micro-credit facilities.