MARKET DEMAND AND SUPPLY OF Cordia millenii (ỌMỌ) SAWNWOOD AND ITS EFFECT ON CONSERVATION OF THE SPECIES
Keywords:Sawnwood market, Trade, Cordia millenii (Ọmọ), Sustainable, Stakeholders
This study examined market demand and supply of Cordia millenii (Ọmọ) Sawnwood in Bodija sawnwood market so that stakeholders involved in the economies of the sawnwood will make appropriate economic decisions thereby ensuring sustainable utilization of the species. Bodija sawnwood market is made up of nine zones comprising 66 blocks and 1868 stalls. Five zones were purposively selected based on the abundance of Ọmọ sawnwood marketers in the zones. Simple random sampling was then used to select 40 respondents in each zone. Structured questionnaires were used and data obtained were analyzed using descriptive statistics. Respondents (89.5%) were male, 75% were between the ages of 30 and 49 years, 97% had formal education and 70.5% had been involved in the sawnwood trade between 10 to 29 years. Respondents (96.5%) stated that there has been a steady increase in the market demand and supply of the sawnwood over the years. Respondents (85.5%) claimed timber were gotten from government forest plantations. Strength (37.5%), hardness (15%), durability (26.5%) and appearance (21%) were identified as the major attributes influencing market demand of the sawnwood. High demand by consumers (76%) and season (23%) were factors influencing the market supply of the sawnwood. Poor infrastructure and unreliable institutional mechanisms (31%) were identified as challenges encountered. Market demand and supply of the sawnwood has been on the increase due to its ubiquitous nature. It is therefore recommended that forestry stakeholders should make a deliberate effort in the sustainable conservation of indigenous tree species through afforestation and reforestation programmes.