Profit efficiency among catfish farmers in Benue State

The study examined profit efficiency among catfish farmers in Benue State of Nigeria using a stochastic profit frontier approach. A multi-stage sampling technique was used to collect data from 143 catfish farmers through a well structured questionnaire. The study used a Cobb-Douglas stochastic profit frontier function to analyze the data and was estimated using a computer software, FRONTIER 4.1 version. The estimated elasticity parameters of variables with respect to gross profit of catfish farmers revealed the significance of all the independent variables included in the stochastic profit function. However, the number of ponds (-0.02), cost of feed (-0.30), cost of fingerlings (-0.11) and cost of hired labour (-0.004) had an inverse relationship with the profit of farmers with cost of feed being the most important variable decreasing the profit of farmers in the study area. The negative elasticity of number of ponds with respect to farmers ’ profit was likely due to under-utilization of ponds capacity. The result further indicated that the kilogramme of catfish produced (elasticity of 1.43) was the most important variable determining profit in catfish farming in the stud