Structure, Conduct and Performance of Sawn Wood Market in Ibadan, Oyo State, Nigeria

¹Olugbire, O.O, ²Aremu, F.J, ¹Ayomide, A.A, ¹Olawale, O.O

¹Departmentof Forest Economics and Extension Service, Forestry Research Institute of                                     Nigeria, Jericho, Ibadan

²Department of Agricultural Economics, Obafemi Awolowo University, Ile Ife, Nigeria

ABSTRACT

This study examines the structure, conduct and performance of sawn wood market in Ibadan, Oyo state, Nigeria. Primary data obtained from 150 marketers was used and analyzed with descriptive statistics, budgetary analysis and Gini- Coefficient. The result of the analysis revealed that sawn wood market in Ibadan was not concentrated and there is free entry and exit. Marketing of sawn wood in the study area is a profitable business as the benefit-cost ratio was 1.11. Cost of acquisition (48.67%) determines the price; open display method is mostly used to attract buyers. There are wide differences in the sawn wood present in the market especially in terms of quality and sources. Sawn wood market association is functional and effective in the study area as 91.33% of the marketers claimed to be active members. The market similarly has strong legal back up with stand-by market police, guards and legislation. Social/emotional (29.33%), financial (16.67%) and settling of disputes among members are among what members enjoy from the association.  Business colleagues and association meetings are the main sources of market information in the study area.