Journal of Economics, Management and Trade

The study analyses the economic viabilities of the production technology alternatives adopted by smallholder honey producers in Southwestern Nigeria. Economic data were collected from officials of the Bee-Keepers’ Association of Nigeria in three purposively selected states in Southwestern Nigeria namely, Osun, Oyo and Ondo states. Average unit market price in the area, labour, transportation and packaging costs were collected and aggregated. Fixed costs, including the cost of bee hives, bee keeping kits, hand gloves, knife, cutlasses and sieves were also collected and used in analyzing costs and returns in honey production. Engineering economy analysis method was used to analyse the economic parameters. Six technology combinations/options with distinction in the hive and extraction technologies were identified and examined. The result shows that the technology option of Kenyan Topbar hive and Hydraulic Press extractor was the most viable at 7% MARR for a project life of ten years on investment bearing highest Present Worth (N1,204,116.61), Future Worth (N2,368,660.87), Annual Worth (N171,437.03) compared to others. The study concluded that the use of Kenyan Topbar hive and Hydraulic Press technology alternative provide higher profitability.