1Socio Economic and Commercialisation Center, Ghana
1Nuclear Agriculture Research Centre, Ghana
1Department of Finance, Ghana
1Department of Internal Audit, Ghana
1Soil and Environmental science department, Ghana
1Department of Estate Management, Ghana
*Corresponding author:Kwamina E Banson, Socio Economic and Commercialisation Center, Biotechnology and Nuclear Agriculture Research Institute of the Ghana Atomic Energy Commission, Box LG80 Legon Accra Ghana
Submission: March 20, 2024;Published: April 05, 2024
ISSN: 2637-7659 Volume14 Issue 1
Okra cultivation is a prominent practice in Ghana due to its lucrative economic prospects. This study aimed to assess the cost and returns associated with okra cultivation. Results revealed that each okra plant yields profits of 4, 3, and 2 Ghana Cedis during lean, intermediate, and glut seasons, respectively. The average cost of cultivating okra was found to be GH 11,870 per hectare, with labor costs comprising the largest share at 56%, followed by seed costs at 5%. Variations in okra varieties did not significantly affect yield or revenue, as retailers commonly trade them based on quantity rather than weight. Okra production and marketing proved highly profitable for both farmers and stakeholders, contributing to tax revenues and employment opportunities. At the end of the value chain, each okra plant contributed 27.6 Ghana Cedis. On average, seasonal production yielded a net return of GH 180,424.7 per hectare for farmers and GH 333,306.8 for traders, with a notable Benefit-Cost ratio of 1:14. Returns could be realized within 10 to 12 weeks after harvest initiation. Mechanized seeding was recommended to ensure optimal plant population and sustained profitability. These economic insights into okra cultivation provide valuable information for farmers considering alternative crop choices. Additionally, the government can leverage okra production as a pro-poor policy initiative to alleviate poverty..
Keywords:
Okra; Yield; Profit; Price; Economic; Value