ECONOMIC ANALYSIS OF PIG PRODUCTION
CHAPTER ONE
INTRODUCTION
1.1 Background
The name pig is broadly applied to all mammals of the family suidae and order artiodactayla but specially to the domestic animal known scientifically as sus scrofa from which domestic pig was developed (Adetunji et.al, 2011). Pig production is along with poultry production the fastest growing livestock sector worldwide and this trend is expected to continue over the coming years. Growth in the sector is mostly happening in developing and in transition countries are stable or declining slightly. Pig production is gaining importance in societies that are currently undergoing a shift from ruminant to monogastric livestock production. Increasing demand, a shorter life cycle with higher returns rates and advantages feed efficiency are key reasons for this development.
The role pig-keeping might play for a farmer especially when referring to small-scale and backyard farming systems goes far beyond pork production and income generation. Pigs are, from an economic perspective, an asset representing a store of wealth or safety net for a times of economic crisis while, from a sociological perspective, traditional ceremonies and beliefs in some places centre on the pig as an asset to their belief system (FAO, 2012).
Nigeria, like many other developing countries is facing the problem of shortage of dietary animal protein (Adesehinwa et.al,2007). With the ever increasing human population in Nigeria and virtually static productivity, the animal protein consumption among Nigerians has worsened in the past few years. Many Nigerians feed on carbohydrate because the average man cannot afford the cost of animal protein which is