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Agricultural Journal
Year: 2011  |  Volume: 6  |  Issue: 3  |  Page No.: 110 - 114

Transactions Costs and Agricultural Household Supply Response of Maize Farmers in Iwo Agricultural Zone of Osun State, Nigeria

J.A. Oladejo, J.O. Ajetomobi and Y.L. Fabiyi    

Abstract: This research is an attempt to determine the magnitude and the direction to which the level of transactions costs influence changes in maize supply in Iwo agricultural zone of Osun state. Multistage random sampling technique was employed in selecting 95 respondents for the study. A structured interview schedule was used to collect data from the respondents. Data were analyzed using descriptive statistics and an estimation of Cobb-Douglas regression model. The descriptive analysis revealed mean age of respondents as 42.7 years while 93% were married. It further showed that 52.2% of the farmers depended on personal savings in financing their maize production activities while14.4% of them received no formal education. Adjusted R2 for the regression analysis was 0.748 showing that 74.8% of the variation in quantity of maize supplied by respondents was explained by the estimated variables. Data analysis showed that significant relationships exist between transactions costs and agricultural household supply response in the study area.

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