Measuring the economic performance of small-scale rabbit production agribusiness enterprises
Submitted: 2022-10-28
|Accepted: 2023-01-29
|Published: 2023-03-31
Copyright (c) 2023 Ridwan Mukaila
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
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Keywords:
disease outbreak, driving factors, mortality rate, profitability, rabbit farming
Supporting agencies:
Abstract:
Reducing malnutrition and poverty remains at the centre of policy. Rabbit rearing, of great economic importance, is a critical pathway to achieving this. Good knowledge of the profitability of rabbit production and its driving factors can enhance participation in rabbit production. Thus, this study examined the economic performance (profitability) of rabbit production, the factors influencing profitability and its barriers. Descriptive statistics, profitability analysis, the Tobit regression model and Garret ranking were employed to achieve the objectives. The results indicated that rabbit production was economical, productive and profitable, with a gross margin of N675,990 (USD 1,633.5), a net income of N663,974 (USD 1,604.4), a profit ratio of 0.6, a benefit-cost ratio of 2.7, a return on capital invested of 1.7 and an operating ratio of 0.4. The factors that enhanced rabbit production profitability were stock size, education, experience, membership of the association and labour availability, whereas mortality, disease outbreaks and feeding costs were inhibiting factors to profitability. The major constraints affecting rabbit production are disease, a high mortality rate and poor access to credit. These call for the provision of disease management training and credits to motivate people to engage in rabbit farming, which will, in turn, lower poverty and increase protein availability.
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