Evaluation of Risk Management Practices in Rice Production in Abia State, Nigeria

Abstract

The study was conducted to evaluate risk management practices in rice production in Abia State, Nigeria with the specific objectives to: (a) examine the profile of rice producers (b) identify sources of risk and the degree of influence on rice production. (c) examine appropriate risk management Practices. Data for the study were collected using well structured questionnaires administered on 60 farmers who were obtained through random sampling technique. Data were analysed using mean, frequency table, percentage, wstatistics and Pearson Criterion. Results of the study indicate that the highest risk sources to rice production were technical and political risk with mean rank of 1.29 and 2.29 respectively. The w-statistics was calculated to be 0.674 implying that concordance of rice producers' judgment should be regarded as satisfactory hence can be used for policy formulation given that it was significant at 1% probability level. It is recommended that farmers should adopt technical methods of handling risk such as use of improved variety of seed, fertilizer, and pesticide in controlling risk. Also the government institutions charged with the responsibility of making the inputs available should be strengthened while extension services by government agencies should be reorganised to carryout effective extension services, on how to use the inputs. Besides, there should be rice insurance scheme to cover disaster like flood.

Application of Safety-First Approach to Measure Risk Behaviour of Yam Farmers in Benue State, Nigeria

“…Since then, numerous researches into the effects of risk on farmers' economic decisions have been stimulated due to the above generalization. Literature review showed significant progresses made by researchers [e. g. [5][6][7][8][9][10][11][12][13][14][15][16][17] in understanding the concept of risk and risk management strategies at various farm levels.…”

Mitigating Risks in Smallholder Sorghum (Sorghum Bicolor [L.] Moench) Production Systems

“…Langyintuo et al (2008) argued that farmers might not adopt the right technology because they might not have access to enough information. Smallholder's views of modern agricultural innovations are indispensable assuming it is to be embraced (Nto et al, 2013;Battisti and Naylor, 2009). Understanding smallholder impressions of the propriety of production innovation attributes can fortify the focal point of plant development and guides innovation advancement and uptake (Ajeigbe et al, 2018).…”

“…Nonetheless, not much accentuation is given to risk management practices by smallholders and strategy specialists in Nigeria (Okoro and Ujah, 2009). Nto et al (2011) additionally revealed a re-occurrence of poor yield in crops like sorghum in Nigeria; taking into account the reliance of smallholders on climatic elements and conditions. Evaluation of risk mitigation measures in smallholder sorghum production systems is critical for rural development and helps policy makers to address appropriate methods compatible with the smallholders.…”