Economic Analysis and Profitability of Honey Production and Marketing in Cross River State, Nigeria

The significance of honey in the socio-economic livelihoods of rural and semi-urban populations is paramount, as it tackles issues such as unemployment, income, and ecosystem preservation. The decrease in the timber industry has caused numerous individuals who rely on forests for their income to be without jobs, making it difficult to find other ways to make a living. This study examines the economic analysis and profitability of honey production and marketing in Cross River State, Nigeria, over 5 years (2017-2021) for sustainable forest management. Six hundred and eighty-four (684) respondents were selected from three ecological zones in the state using a multistage and purposive sampling technique in the study. The methodology involved gathering primary data through semi-structured questionnaires, Key Informant Interviews, and Focus Group Discussions. Statistical and economic tools were used to analyze data to identify trends and assess profitability in honey production and marketing. The research discovered that the region has a high possibility for honey production and marketing, featuring an immense forest area of around 8,968 km2 and a tropical humid climate ideal for honey production. Both producing honey and marketing it are lucrative endeavors, yielding high profits efficiently. The total revenue for honey production was ₦70,976.46, with a total cost of ₦35,499.19, resulting in a total profit of ₦35,477.27 and a profit efficiency of 49.98 %. Similarly, the total revenue for honey marketing was ₦511,461.60, with a total cost of ₦39,782.5, resulting in a total profit of ₦471,679.08 and a marketing efficiency of 92.1 %. The study indicated the honey industry in the area is highly profitable.