“…Between 2009 and 2018, the country witnessed unpredictable and dwindling tobacco production [ 10 , 11 ]. Scholars [ 11 ] attributed the dampened tobacco production to global tobacco control campaigns, low adoption of agricultural technologies, declining soil fertility, erratic precipitation patterns, lack of access to capital, insufficient rural credit markets, and lack of insurance [ [12] , [13] , [14] , [15] ]. Dorward et al [ 16 ] reported that agricultural price insurance changes the supply curve of agricultural products by reducing their supply elasticity, subsequently positively affecting the stabilisation of outputs.…”