Determinants of demand and supply of microcredit among fish farmers in Osun State

With the help of microcredit, a farmer's way of life could be transformed from one of utter destitution to one of greater dignity. For the poor and disadvantaged, especially rural farmers, it unlocks potential and increases productiv-ity and well-being. This study investigated the determinants...

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Bibliographic Details
Published inJournal of agribusiness and rural development Vol. 67; no. 1; pp. 5 - 18
Main Authors Kehinde, Ayodeji Damilola, Bamire, Adebayo Simeon
Format Journal Article
LanguageEnglish
Published Poznan Wydawnictwo Uniwersytetu Przyrodniczego w Poznaniu 30.03.2023
Subjects
Academic achievement
Disadvantaged
Farmers
Fish
Human dignity
Interest rates
Males
Microfinance
Rural communities
Rural poverty
Sampling
Statistics
Supply & demand
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Summary:With the help of microcredit, a farmer's way of life could be transformed from one of utter destitution to one of greater dignity. For the poor and disadvantaged, especially rural farmers, it unlocks potential and increases productiv-ity and well-being. This study investigated the determinants of demand and supply of microcredit among fish farmers in Osun State. A multi-stage sampling procedure was used to select 150 fish farmers and 50 microcredit providers for the study. Data were analyzed using descriptive statistics and a si-multaneous equation model. The result revealed that many fish farmers are males (86.5%), married (77%), and educated (95%). Simultaneous equation estimates revealed that farm-ers' income, age, interest rate, and educational level determine microcredit demand among fish farmers whereas liquidity, ex-perience in lending, and interest rate determine the microcred-it supply in the study area. The findings of the study revealed that microcredit suppliers consider several factors before sup-plying credit to fish farmers.
ISSN:1899-5241
1899-5772
DOI:10.17306/J.JARD.2023.01576