An Empirical Study of the Effects of Buffer Stocks on Food Security in Nigeria.

Author(s)

ADEBIYI, Oluseye Akano , AJIKE, Emmanuel O , ALALADE, Yimka Samson A ,

Download Full PDF Pages: 69-78 | Views: 381 | Downloads: 110 | DOI: 10.5281/zenodo.3460045

Volume 4 - May 2015 (05)

Abstract

Following recent warnings by many organizations about impending food crisis in the world and the challenges facing Nigeria in this regard, sequel to massive flooding of many of her farmlands in August 2012, this pilot study was undertaken to investigate the effects of buffer stock on food security. This derived from failure of most empirical studies on food security to address the physical aspect of the concept of ‘accessibility’ in food security preferring to investigate more on the economic aspect. A pilot survey of a garri processing centre within a village set – up in Oyo State was conducted on a balanced pair of thirty participants. Buffer stock levels were established for the participants using probability distribution obtained from past data on demand during lead time. Operations were observed for six market days (weeks) based on level of buffer stock kept and the number of markets traded. Data were analyzed using simple regression model while coefficient of correlation was obtained using Pearson Product Moment Correlation technique. The hypothesis was tested at 5% level of significance. It was found that participants who maintained buffer stock increased the number of markets in which they traded from one in the first week to four in the sixth week whereas the control group did not improve beyond one market. This implies that maintenance of buffer stock affects food security positively and could be used to sustain food security. Therefore, it was recommended that the use of buffer stock should be encouraged more in the distribution chain of food products in Nigeria for sustained food security.

Keywords

Food Security, Buffer Stock, Inventory, Garri, Availability and Accessibility

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