Are non-market benefits of soybean production significant? An extended economic analysis of smallholder soybean farming in Upper West region of northern Ghana

Table 4 Gross margin analysis (Gh¢) of soybean farm in the Upper West region

Components	Districts
Variable cost (per ha)	Sissala-West(Gh¢)	Wa-East(Gh¢)	DBI (Gh¢)	Pooled (Gh¢)
Seed	75.73	61.84	60.56	66.04
Ploughing	185.79	229.39	148.59	187.92
Fertilizer	43.45	45.51	11.39	33.45
Inoculants	2.34	17.24	8.60	9.39
Labor cost
Family labor	526.39	220.76	337.20	361.45
Hired labor	194.72	293.56	250.20	246.16
Total labour cost	721.11^a	514.32^b	587.40^c	607.61
Agrochemicals	73.92	40.50	52.67	55.70
Land rental	52.30	54.78	27.88	44.99
A. Total variable cost	1154.64^a	963.58^b	897.09^c	1005.10
B. Output of soya (marketed) (kg/ha)	825	836.50	533.68	731.73
C. Output price/kg	1.96	1.39	1.52	1.62
D. Total revenue (B*C)	1617.00^a	1162.74^b	811.19^c	1185.40
E. Gross margin (D–A)	462.36	199.16	(85.90)	191.87
F. Fixed cost (depreciation)	34.02	8.03	17.2	19.75
G. Net margin (E–F)	428.34^a	191.12^b	(103.10)^c	172.12

Figure in brackets means loss. Values with different superscripts denotes means are significantly different while same superscripts denote means are not different across rows. Official exchange; US$1 = Gh¢4.5 in 2017

ISSN: 2048-7010