Structure, efficiency, and cost-benefit analysis of crayfish marketing in major markets in Calabar, Cross River State, Nigeria

This study examines the cost-benefit analysis and marketing efficiency of crayfish trade in three majormarkets in Calabar, Cross River State. Using a quantitative approach, the study analyzes marketingmargins, gross margins, profitability, and efficiency metrics, particularly employing the Shepherd Futrelmethod to evaluate trade effectiveness across these markets. The study utilizes primary data collected fromcrayfish traders and market unions, incorporating cost structures, sales volumes, and price variations overa three-month period (January–March 2024). A comparative analysis of wholesale and retail margins isconducted to assess variations in profitability and efficiency. Results reveal significant disparities inpurchase costs, variable expenses, and profit margins among the three markets: Nsidung Beach Market:Purchase cost ₦145,000, total revenue ₦800,000, gross margin ₦740,000, profit ₦630,000, and marketingefficiency of 94.11%, making it the most efficient market. Watt Market: Purchase cost ₦162,000, totalrevenue ₦850,000, gross margin ₦768,000, profit ₦638,000, and marketing efficiency of 80.19%,moderately efficient but impacted by higher transaction costs. Ika-Ika Oqua Market: Purchase cost₦163,000, total revenue ₦875,000, gross margin ₦781,500, profit ₦641,500, and marketing efficiency of74.95%, lower efficiency due to increased costs but generating the highest revenue. This research uniquelyintegrates cost-benefit analysis with marketing efficiency metrics, distinguishing between wholesale andretail margins to provide deeper insights into crayfish trade dynamics. Unlike prior studies that focus onlyon profitability, this study quantifies efficiency in multiple market structures, shedding light on pricingstrategies, cost optimization, and economic viability of crayfish marketing. Findings suggest the need formarket infrastructure upgrades, reduced transaction costs, and price regulation frameworks to enhanceprofitability and efficiency. Policymakers should invest in cold storage facilities, streamline unionregulations, and support digital trade platforms to reduce overhead expenses and expand market access.This study underscores the economic potential and efficiency variations in crayfish trade, providing a datadrivenfoundation for improving trade sustainability in developing economies. Future research shouldexplore international export opportunities, digital marketplace integration, and seasonal trade dynamics tofurther optimize the seafood supply chain