Remi Adeyemo

Egg production on cooperative farms: An economic analysis

Abstract This paper examines the economics of egg production of forty co-operative farms in South-Western Nigeria. In the paper, cost functions are analysed by the use of ordinary least squares and weighted least squares. The impact of different factors of production on revenues was computed by fitting a production function that related total revenue to inputs. Results of the analysis indicated that productive inputs appeared to be combined in fixed proportions over all sizes of co-operative farms. Feed was found to account for over two-thirds of the costs on co-operative farms.

Cash refunds in farm supply co-operatives: Experience from the United States

Abstract This study evaluated the effects of various cash refund policies on the financial position of co-operatives and co-operative members in Mississippi. Questionnaires were mailed to 25% of the farm supply co-operatives having over one million dollars of annual sales and to 25% of those having less than one million dollars of annual sales. In addition, financial data and parameters for three firms typical of co-operatives in the state were secured. These data were used to develop a hypothetical co-operative for analysis in a cash flow simulation model. The after-tax present values of the patrons investments were calculated and then the option of varying the cash refund percentage was analysed in order to evaluate its impact on the firms financial position. It was found that members derive benefit from their co-operatives, as shown by the after-tax present value of yearly benefits to patrons. Also, increasing the cash patronage refund resulted in lower patron benefits and had an adverse effect on the financial structure of the co-operative. Therefore, increasing the percentage of cash refund to members will probably weaken the co-operatives ability to serve its members in the future.

The food marketing system: Implications of the green revolution programme in Nigeria

Abstract This paper focuses on the food marketing system in three selected markets in the Kwara State of Nigeria as it affects the new agricultural development programme known as the Green Revolution. Analysis shows that, on average, transportation costs alone make up 54·5% of the total marketing costs. Seasonality is a problem in the food marketing industry in the area of study and in Nigeria in general. Analysis also indicates that there is no formal system of providing information. Most information is transmitted by informal sources. The paper therefore suggests ways of reforming these services if Nigerians are to benefit from the success of the Green Revolution.