ECONOMICS OF RED PALM TREE WEEVIL LARVAE (Rhynchophorus Ferrugineus) PROCESSING, MARKETING AND VALUE CHAIN IN BAYELSA STATE

Abstract

The study examined the Economics of Red Palm Tree Weevil Larvae (Rhynchophorus Ferrugineus) commonly called maggot (Bayelsa Suya) processing, marketing and value chain in Bayelsa State. A multistage sampling technique was used to select 60 processors/marketers for the study. The data collected were analyzed using descriptive statistics and costs and return analysis. The result showed that majority (96.7%) of the respondents were female, married (48.3%), with primary education (63.3%) and 28 years old on the average. Majority (60%) sourced their capital through personal savings. While 60% of the processors and marketers sell directly to retailers, 65% roast the maggot and transport it by motor vehicle. Results further showed that a monthly revenue of N200,000.00, average total cost of N 132,612.00 per month; gross margin and net income of N69,000 and N67,387.5 respectively per month were realized. The return on investment was N 1.50. The study revealed that the enterprise does not have a well-developed value chain, and no notable value additions. The respondents perceived that maggot is cheap when compared to meat and fish, easily available, medicinal, easily preserved, rich in protein, a cultural delicacy, and a delicacy for both the poor and rich among others. Lack of credit facilities, inadequate capital, high market levy, inadequate supply of maggot and inadequate preservation methods hamper maggot processing and marketing. Therefore, awareness concerning maggot profitability should be created and processors should be educated to develop better processing, marketing and value addition skills to make it more attractive to all classes of people.