Price Determination Of Garcinia kola (Bitter Kola) And Aframomum melegueta (Alligator Pepper) In Ibadan, Oyo State.

Abstract

The study analysed the factors influencing the price of Bitter kola and Alligator pepper in Non Timber Forest Products markets in Ibadan. Data were collected from 76 sellers with the aid of structured questionnaires in Oja‘ba, Agbeni-Ologede, Bode, Oje, Ojoo, Shasha and Omi-Adio markets. The data were analysed using descriptive statistics, gini coefficient and multiple regression. The result shows that the market is dominated by female sellers, majority of which had no formal education but with more than twenty years of experience in the trade. The gini coefficient of 0.76 and 0.81 for Garcinia and Aframomum  respectively reveal that the market for these products tend towards oligopoly. The regression analysis shows that Age, Eeducational qualification of the seller and Cost price of the products are significant determinants of price for the two products. Also Years of experience in the trade positively influence price for Bitter kola and Cost of transportation for Aframomum. It is recommended that better storage technology should be developed; the sellers should be encouraged to form cooperatives for the provision of services and facilities such as transportation and organized marketing system. Sustainability of the species should be encouraged by creating awareness and encouraging small and large private plantations.

Keywords: Price, Garcinia kola, Aframomum melegueta