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Farm-Level Efficiency and Resource-Productivity: Application of Stochastic Frontier Analysis to Aquaculture Farms in the South-West Nigeria

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  • This paper comparatively examined resource-use and technical (TE) efficiencies of aquaculture farms in the Southwest Nigeria. A total of 160 farms were randomly selected from four states across the region. Econometric applications of the stochastic frontier models provide measure of the farm’s technical efficiency. The results of regressions specified for the farms in each states, show that, elasticites for inputs, such as: size of the pond, feeds, labour, numbers of fingerling stocked, and costs of materials were positive and significant. This suggests that, the production functions monotonically increased with input from the study. The returns to scale estimates show that, an average farm in the states like, Ogun and Ondo exhibit increasing returns to scale, while similar numbers of farms in Osun and Ekiti states exhibit decreasing returns to scale. The results of marginal value product (MVP) show that, none of the farms across the states optimally used their variable inputs (MVPx =MFCx). Most farms were found to have underused (MVPx >MFCx) feeds and numbers of fingerlings stocked, as against overused (MVPx <MFCx) of labour across the states. The estimated TE shows that, about 11%, 18%, 22% and 44% of outputs of the farms in Ogun, Ondo, Ekiti and Osun states are forgone due to inefficiency respectively. The implications of these findings, therefore, suggest that improvement in the technical efficiency of the farms, as well as, optimal input utilization, will contribute significantly to aquaculture expansion program in the county.
  • Keywords: Income, Fisheries Economics, Aquaculture, Technical and allocative efficiencies, Resource-use, Nigeria
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  • Ogundari, Kolawole. 2008. Farm-Level Efficiency and Resource-Productivity: Application of Stochastic Frontier Analysis to Aquaculture Farms in the South-West Nigeria. 8 pages. In: Proceedings of the Fourteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 22-25, 2008, Nha Trang, Vietnam: Achieving a Sustainable Future: Managing Aquaculture, Fishing, Trade and Development. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2008.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, The Department of Fisheries and Oceans, Canada; Aquaculture CRSP and AquaFish CRSP; Minh Phu Seafood Corporation; Vietnam Datacommunication Company (VDC); Camau Frozen Seafood Processing Import Export Corporation (Camimex); Long Sinh Limited Company; Mai Linh Group and Nam Viet Corporation.
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