Agricultural business risks management strategies in catfish farming in Akwa Ibom State, Nigeria
2025
Esin, C.T. | Ebong, V.O. | Bruno, S.A. | Frank, N.N. | Etuk, U.R.
The study examined agricultural business risks management strategies in catfish farming in Akwa Ibom State, Nigeria. Specifically, sources of perceived risk and management strategies were identified. The study made use of both primary and secondary data. The primary data were obtained through the use of well-structured questionnaire supplemented with personal discussions with the farmers to extract vital information while the secondary data was obtained from yearly annual report or journal proceedings and other useful resources. Multi-stage sampling technique was used in selecting samples for the study. Risk Management Index (RMI) was used toanalyze risk management strategies, whereas Tobit Regression Model was used for factors influencing adoption of identified risk management strategies. The result obtained showed that the highly relevant perceived sources of risk included predation, fire outbreak and pond flooding. Parasite and pathogen infestation, pest/disease outbreak were perceived as relevant sources of risk by the fish farmers. Equally, RMI result showed that only 58.10% of them were risk takers, 11.9% were risk indifferent, while 30.41% were risk averse. Determinants of risk management strategies were farmers’ age, experience, education, pond size, farm income andmembership ofcooperative. The study recommends policy attention to check the very highly relevant sources of perceived risk, easy access to credit, input/output market price stability and foreign exchange rate stability to address the needed physical/social security to ease catfish production and boost income.
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