APPLICATION OF SAFETY-FIRST APPROACH TO MEASURE RISK BEHAVIOUR OF YAM FARMERS IN BENUE STATE, NIGERIA

  • Sanusi M. Sadiq, I. P. Singh, N. K. Singh Department of Agricultural Economics, SKRAU, Bikaner, India
  • M. Lawal Department of Agricultural Education, Federal College of Education, Katsina, Nigeria
  • M. M. Ahmad Department of Agricultural Economics and Extension, Bayero University, Kano, Nigeria
  • O. C. Eije Department of Agricultural Economics, FUT, Minna, Nigeria

Abstract

The present research empirically measured the risk attitudes of yam farmers in Benue State of Nigeria. Multi-stage sampling design was used to draw a sample size of 120 respondents and ex-post 2016 production data were tacitly elicited from the respondents using structured questionnaire complemented with an interview schedule. The collected data were analyzed using both descriptive and inferential statistics. The yam sett was found to be the most important input in the production process, as such used to measure the farmers risk behavior. Evidence showed that all the respondents were risk aversive and the identified factor which propelled farmers’ risk apprehension was paucity of economic capital. Therefore, in order to shift the paradigm from risk aversion to risk preference, yam farmers in the studied area should be given access to formal credit facilities.

Downloads

Download data is not yet available.

References

1. Dadzie SKN, Acquah HD. Attitudes toward risk and coping responses: the case of food crop farmers at Agona Duakwa in Agona East District of Ghana. Int J Agric Forestry 2012;2:29-37.
2. Moscardi E, deJanvry A. Attitude toward risk among peasants: an econometric application approach. Am J Agric Economics 1977;59:710-21.
3. Dillon JL, Scandizzo PL. Risk attitudes of subsistence farmers in Northeast Brazil: a sampling approach. Am J Agric Economics 1978;60.
4. Antle JM. Econometric estimation of producer’s risk attitudes. Am J Agric Economics 1987;69.
5. Gadhim I, Nyikal ERA, Kosura WA. Attitudes toward risk among peasants: an econometric approach. Am J Agric Economics 2005;59:710-6.
6. Szekely C, Palinkas P. Agricultural risk management in the European Union and in the USA. Studies Agric Economics 2009;109:55-72.
7. Olarinde LE, Manyong VM, Akintola O. Attitudes towards risk among maize farmers in the dry savanna zone of Nigeria: Some prospective policies for improving food production. Afr J Agric Res 2007;2:399-408.
8. Nto POO, Mbanasor JA, Nwaru JC. Analysis of risk among agribusiness enterprises investment in Abia State, Nigeria. J Economics Int Finance 2011;3:187-94.
9. Fakayode SA, Rahji MAY, Adeniyi ST. Economic analysis of risks in fruit and vegetable farming in Osun State, Nigeria. Bangladesh J Agric Res 2012;37:473-91.
10. Teweldemedhin MY, YKapimbi Y. Factors influencing enterprise diversification as a risk strategy management in Namibia: a case study of communal farmers from the Kunene region. Int J Agric Sci 2012;2:845-53.
11. Salimonu KK, Falusi AO. Sources of risk and management strategies among food crop farmers in Osun State, Nigeria. Afr J Food Agric Nutr Dev 2009;9:1592-605.
12. Organisation for Economic Co-operation and Development (OECD). Managing risk in agriculture: A holistic approach. OECD Publishing, Paris; 2013. p. 1-43.
13. Soham S, Vikas C. ICT applications for agricultural risk management: economic and sector work. World Bank Project; 2013.
14. World Bank. Dynamic risk management and the poor: developing a social protection strategy for Africa. Africa Region Human Development Series, Washington DC, USA; 2013.
15. Nto POO, Mbanasor JA, Nto CPO, Osuala AE. Evaluation of risk management practices in rice production in Abia State. Am J Exp Agric 2014;4:263-74.
16. Jean Paul C, Guanming S. An economic analysis of risk, management and agricultural technology. J Agric Resource Economics 2015;40:63–79.
17. Hatz N. Successfully managing agricultural credit risk regardless of agricultural market conditions. Federal reserve bank of minneapolis–helena branch, supervision and regulation letter; 2016. p. 11-4.
18. Subba RS, Raghu RP, Neelakanta STA, Bhavani DI. Agricultural Economics First Edition. Oxford and IBH publishing company PVT. Limited, New Delhi, India; 2004.
19. Subba RS, Raghu RP, Neelakanta STA, Bhavani DI. Agricultural Economics Second Edition. Oxford and IBH publishing company PVT. Limited, New Delhi, India; 2016.
20. Sidhart B, Pankaj KS. Agricultural economics at glance. Sharma publisher and distributors, New Delhi, India; 2012.
21. Dawson PJ, Lingard J. Management bias and returns to scale in a Cobb-Douglas production function for agriculture. Eur Rev Agric Economics 1982;9:7-24.
22. Hussain A. Economic analysis of rice crop cultivation in district SWAT. J Agric Res 2013;51:175-88.
23. Tobin J. Estimation relationship for limited dependent variables. Econometrica 1958;26:24-36.
24. Acharya SS, Madnani. Applied Econometrics for Agricultural Economists. Himanshu Publications, Udaipur, India; 1988.
25. Churchill GA. A paradigm for developing better measures of marketing constructs. J Marketing Res 1979;16:64-73.
Statistics
100 Views | 114 Downloads
How to Cite
I. P. SINGH, N. K. SINGH, Sanusi M. Sadiq, et al. APPLICATION OF SAFETY-FIRST APPROACH TO MEASURE RISK BEHAVIOUR OF YAM FARMERS IN BENUE STATE, NIGERIA. Journal of Scientific Agriculture, [S.l.], v. 2, p. 52-61, feb. 2018. ISSN 2184-0261. Available at: <http://updatepublishing.com/journals/index.php/jsa/article/view/890>. Date accessed: 17 oct. 2018. doi: https://doi.org/10.25081/jsa.2018.v2.890.
Citation Formats
Section
Agricultural Economics