International Journal of Innovative Social Sciences & Humanities Research 3(1):119-125 Jan-Mar 2015 (ISSN: 2354-2926)



© SEAHI PUBLICATIONS, 2015 www.seahipaj.org

ECONOMIC EFFECTS OF CHANGES IN PRICES OF CASH CROPS ON FARMERS’ WELFARE IN IKERE LOCALGOVERNMENT AREA OF EKITI STATE


OLASEHINDE IretiOlamide
Department of Economics
College of Education, Ikere-Ekiti, Ekiti State, Nigeria
2Lecturer, Jomo Kenyatta University of Agriculture and Technology, Kenya
Email of corresponding author:iretiolamideolasehinde@gmail.com

ABSTRACT
This research work is to identify the economic effects of changes in the prices of cash crops on farmers’ welfare in Ikere Local Government Area of Ekiti State. The population of the study consists of all the farmers in Ikere - Ekiti while only 220 farmers were randomly selected from her eleven (11) wards. In analyzing the result, simple percentage scores’ sampling was used. From the fact findings, it is discovered that people are more interested in cash crops production than food crops production but little or no encouragements in terms of farming subsidy, supports and others grants are given to the farmers by the government and that changes in prices of cash crops are being experienced due to insufficient production of the output. Based on the findings, it is suggested that the government should always come to the aid of cash crops’ farmers by earmarking nothing less than 25% of the yearly budget on farming generally and that the government should watchdog the full implementation of such fund on agriculture.
Key Words: cash crops, farmers, price changes, economic effects