Price Determinants of Sawn Wood in Bodija Plank Market, Ibadan Oyo State Nigeria

Abstract

With the growing demand of sawn wood, self-imposed rules has led to tagging of price on sawn wood not considering the surrounding factors associated to the product. This therefore led to the analysis of the price determinants of sawn wood species in Bodija plank market Ibadan Oyo State Nigeria. Ninety copies of questionnaire were administered to the existing nine zones in Bodija plank market. Data collected were analyzed using descriptive and inferential statistics such as frequency, percentage and regression analysis. The result reveals that 78.8% of the respondents were male, 50.0% were between the ages of 41-50 years, 81.1% married with 38.9% of family size of 5 persons, 93.3% had one form of formal education with majority (54.4%) could not go beyond secondary education. Mahogany (Melicia excelsa) (28.9%) and Gmelina arborea (26.7%) were the mostly demanded sawn wood while Mansonia altissima (1.1%) was the least demanded sawn wood in the study. The variables; season (-0.476) and tree scarcity (0.289) were statistically significant and determinant variables in the price of sawn wood. The coefficient of determination (R2 ) was 0.80% which explains 80% level of variation. It was therefore concluded that season, government policy and scarcity of tree were the factors that influences price determinant of sawn wood in the study. Consequently, it is recommended that government should encourage her citizens to go into private tree plantation