Risk Preferences and Coping Strategies among Poultry Farmers in Abeokuta Metropolis, Nigeria
risk preference, coping strategies, risk behavioural models, poultry, Abeokuta, Nigeria
Abstract
The study analyzed the risk preferences and coping strategies among poultry farmers in Abeokuta, Nigeria. The multistage sampling technique was used to select 70 poultry farmers for the study. Data obtained were analyzed using descriptive statistics, risk behavioural and multiple regression models. Results showed that 64% of the farmers had tertiary education, 81% had previous risk experience, 76% earned above N100,000 ($ 625) monthly. Major sources of risk included market and production risks. Common risk coping strategies included increasing staff working hours and diversification of enterprise. Some 53% of the farmers are risk seekers. Factors which positively and significantly (p≤0.05) determine risk preference included age, educational level, household size, cooperatives participation, credit access and income level. It is recommended that government efforts should be directed towards reducing production and market risks; enhancing farmers' participation in cooperatives and facilitating access to agricultural credit facilities to indirectly insure farms against risks.
Downloads
How to Cite
References
Abel Kolawole Oyebamiji, Folashade O. Oyedeji, Isaiah A. Adejoro, Babatunde Benjamin Adeleke (2000) Computational Studies of Some Hydrazone Derivatives as Antibacterial Agent: DFT and Docking Methods. 8(1), 1-6.
O Aina, B Omonona (2012) Nigerian Agricultural Insurance Scheme (NAIS): Prospect, achievement and problems. 1(5), 97-103.
J Aneke (2007) Agricultural Insurance. 221-244.
S Apantaku, A Omotayo, A Oyesola (1998) Poultry Farmers' Willingness to Participate in Nigerian Agricultural Insurance Scheme in Ogun State, Nigeria. 542.
G Aye, K Oji (2007) Effect of Poverty on Risk Attitudes of Farmers in Benue State, Nigeria. 2(2), 62-66.
O Ayinde, A Olarewaju, V Chimeze, K Omotesho, I Ogunlade, G Olaoye (2008) Gender-based analysis of risk management and improved technology adoption among small-scale maize farmers in Kwara State. 22(1), 70-84.
D Babalola, Y Babalola (2013) Economic Effects of Media Campaign against Pandemic Diseases: The Case of Bird Flu (H5N1) on Poultry Business in Ogun State, Nigeria. 2(12), 80-88.
P Barry, C Baker (1984) Financial Response to Risk in Agriculture. 183-198.
L Bauer, D Bushe (2003) Managing risk. 340-379.
Hans Binswanger (1980) Attitudes Toward Risk: Experimental Measurement in Rural India. 62(3), 395-407.
S Dadzie, Ndzebah, H Acquah, De-Graft (2012) Attitudes Toward Risk and Coping Responses: The Case of Food Crop Farmers at Agona Duakwa in Agona East District of Ghana. 2(2), 29-37.
S Dercon (2002) Income Risk, Coping Strategies, and Safety Nets. 17(2), 141-166.
N Eekeren, A Maas, H Saatkamp, M Verschuur (1995) Small scale poultry production in the tropics.
F Ellis (1998) Household Strategies and Rural Livelihood Diversification. 35(1), 1-38.
Frank Ellis (2000) The Determinants of Rural Livelihood Diversification in Developing Countries. 51(2), 289-302.
J Adamu, A Adam, A Yahaya, A Raji, H Abbaya, I Ogu (1988) Phenotypic correlation of body weight and morphometric measurements of two breeds of rabbit. 7(1), 1-5.
O Fawole, O, Fasina (2005) Factors predisposing farmers to organic fertilizer Use in Oyo State, Nigeria. 14(2), 81-91.
Berhanu Gebremedhin, Scott Swinton (2003) Investment in soil conservation in northern Ethiopia: the role of land tenure security and public programs. 29(1), 69-84.
J Hardaker, R Huirne, J Anderson, G, Lien (2004) Coping with risk in agriculture.
P Hazell, R Norton (1986) Mathematical Programming for Economic Analysis in Agriculture.
B Isiaka (1998) Livestock rearing practices and problems in Lagos. 223-225.
A Mishra, M Morehart (2001) Off-farm Investment of Farm Households: A logit Analysis. 87-101.
L Mikhaylova (2005) Agricultural Markets and Risk Management. 1-20.
E Moscardi, A De Javry (1977) Attitude towards risk among peasants: An Econometric Approach. 59, 710-716.
Nbs (2007) Volume 34 Contents. 34(4), 30-34.
Nipc (2008) Nigerian investment promotion commission newsletter-a quarterly publication.
F Nnadi, J Chikaire, J Echetama, R Ihenacho, P Umunnakwe, C Utazi (2013) Agricultural insurance: A strategic tool for climate change adaptation in the agricultural sector. 1(1), 1-9.
P Nto, J Mbanasor, J Nwaru (2011) Analysis of Risk among Agribusiness Enterprises Investment in Abia State, Nigeria. 3(3), 187-194.
Matea Hanžek, Zdravka Biočina, Maja Martinović, Valentina Pirić (2009) DISRUPTIVE TIMES AND HIGHER EDUCATION IN ECONOMICS AND MANAGEMENT: IMPORTANCE OF DUAL ASSESSMENT. 215-222.
J Olayemi (1995) Agricultural Policies for Sustainable Development: Nigeria's Experience. Sustainable Agriculture and Economic Development in Nigeria. 41-60.
Joost Pennings, Olga Isengildina‐massa, Scott Irwin, Philip Garcia, Darrel Good (2008) Producers' complex risk management choices. 24(1), 31-54.
S Pender (2001) Managing Incomplete Knowledge: Why Risk Management is not Sufficient. 19, 79-87.
A Roy (1952) Safety First and the Holding of Assets. 20(3), 431.
Alain Sadoulet, Janvry De (1995) Quantitative Development Policy Analysis.
K Salimonu, A Falusi (2007) Risk preferences and resource allocation differentials of food crop farmers in Osun state, Nigeria. 16(1), 1-12.
I Sekar, C Ramasamy (2001) Part III. III, 208-212.
P Scandizzo, J Dillon (1976) Peasant Agriculture and Risk Preferences in Northern Brazil: A Statistical Sampling Approach.
A Tonye, J Ikpi, D Adegeye (1977) Poultry Industry in Nigeria. 2(2), 15-20.
Alberto Valdes, P Konandreas (1981) Food Security For Developing Countries.
J Wik, K Holden (1998) Uncertainty, risk, and wealth and income distribution in peasant agriculture. 9.
M Wik, T Kebede, B Olvar, S Holden (2004) On the Measurement of Risk Aversion from Experimental Data. 36(21), 2443-2451.
Published
2014-07-26
Issue
Section
License
Copyright (c) 2014 Authors and Global Journals Private Limited
This work is licensed under a Creative Commons Attribution 4.0 International License.