Reviewed by Omotolani Ajileye
Edited by Paul Elegbeleye
History and Functions of Marketing Boards
History of Marketing Boards
Marketing boards were introduced in West Africa during the colonial period, mainly to regulate the production and marketing of major cash crops such as cocoa, groundnuts, cotton, palm produce and coffee.
The colonial governments established these boards to control the buying, pricing, storage and export of agricultural commodities. The boards bought produce from farmers, fixed or influenced the prices paid to farmers, ensured that products met certain quality standards and arranged their sale in local and international markets.
They also helped governments generate revenue from agricultural exports.
After independence, countries such as Nigeria continued to operate marketing boards because agriculture remained an important source of employment and foreign exchange. However, the boards were increasingly criticised for paying farmers relatively low prices, excessive government control, bureaucracy and inefficiency.
In Nigeria, the commodity marketing boards were eventually abolished in 1986 as part of the economic reforms of the period, with agricultural marketing becoming more open to private traders and other market participants.
Today, agricultural commodities are largely marketed through farmers, cooperatives, traders, processors and private companies, while government agencies continue to regulate aspects of agricultural trade and standards.
Functions of Marketing Boards
1. Buying Agricultural Commodities
One of the major functions of marketing boards was to buy agricultural commodities from farmers. The boards purchased crops such as cocoa, cotton, groundnuts, palm produce and other cash crops. This gave farmers an organised market where they could sell their produce instead of…
Source link
Read Full Article by Ekpedeme Edidiong at geeky.com.ng
Source link
