Empirical Analysis of Value Chain Efficiency in the Catfish Marketing System in Ondo State

The catfish value chain in Nigeria has grown significantly as a result of expanding aquaculture production and increasing consumer demand for affordable animal protein. In Ondo State, in the South West geopolitical zone, catfish is marketed through diverse channels including live fish traders, processors, and retail market sellers, yet the efficiency of this system and the distribution of value added across actors remain empirically underdocumented. This study empirically analyses value chain efficiency in the catfish marketing system in Ondo State. Primary data were collected from 200 value chain actors including 80 fish farmers, 60 wholesalers, 40 processors, and 20 retailers selected through a snowball sampling procedure from Ondo, Akure, and Ore. Marketing margin analysis, price transmission analysis using the Ravallion model, and value addition calculations were applied. Results indicate that catfish value chain efficiency ratios varied substantially across channels, with the farm-to-processor-to-retailer channel generating the highest total value added but allocating the lowest share to primary producers. Marketing margins were widest at the wholesale-to-retail segment, where price information asymmetry favoured traders. Price transmission from terminal urban markets to farm gate prices was incomplete, with an estimated pass-through coefficient of 0.52. The study identifies limited cold storage infrastructure, fragmented market information, and absence of grading standards as the key sources of value chain inefficiency. Recommendations target investment in ice production infrastructure and the establishment of a catfish quality grading system in Ondo State aquaculture markets. Keywords: value chain efficiency, catfish marketing, price transmission, Ondo State, aquaculture