Determinants of adoption level of risk management strategies by fish farmers in Degema Local Government Area of Rivers State, Nigeria

Abstract

The study examined the socio-economic determinants of level of adoption of risk management strategies by fish farmers in Degema Local Government Area of Rivers State. The study specifically described the socioeconomic characteristics of fish farmers, identified the various sources of risk and determined the socioeconomic factors that influence the level of adoption of risk management strategies. A two-stage sampling technique was used to select sixty-seven (67) fish farmers. Structured questionnaire and interview schedule were used for data collection. Data analysis was done using descriptive statistics and multiple regression. The result showed that majority were young male with an average age of 40 years. The most common sources of risk were the fluctuation in prices of fish feed and fish. The age of farmers, household size, and farming experience were some of the factors that influenced the adoption to risk management strategies. However due to the inadequate extension service activities, farmers were not able to fully utilize the different and essential risk management strategies. Hence, the study recommends that young women should be encouraged to invest in fish farming business. Also, extension agents should be encouraged to disseminate useful information to farmers on essential risk management strategies.

Determinants of adoption of risk management strategies in electronic banking among agro-entrepreneurs in Ughelli North Local Government Area of Delta State, Nigeria

“…The negative effects of age may be due to younger farmers being technology savvy which helps to adopt to different risk management strategies. This is in line with the findings of Ugwuja et al (2017) who reported that younger farmers adopted more risk management strategies in fish farming. Marital status (X 3 ) was significant at 5% and has positive coefficient.…”

Analysis of Risk Coping Strategies Among Catfish Farmers in Ikorodu Division, Lagos State, Nigeria

“…The mean years of experience of about 11 years implies that the catfish farmers have a better understanding of the dynamics of catfish production in terms of price, market information and risk coping in the study area. This result is in accordance with the reports of [8] and [15] that longer years of experience enable catfish farmers to possess good skills, better strategies to fish farming business, able to predict market situation for higher sales, take cognizance of the risk situation as well as their adaptive mechanisms. Only 29.8% of the respondents engaged in catfish farming on full time basis.…”

“…Married farmers are obligated to provide for their family members and this impels them to reduce their risks level and be more productive than unmarried farmers. This result is in tandem with the findings of [8] that majority of the catfish farmers in Degema LGA of Rivers State were married and that married farmers were more committed to their business as they are responsible to meeting their family needs. Also, majority (64.9%) of the respondents had 5 people or less in their household.…”

“…Institutional risk arises from uncertainties in government and/or legal policies and standards that affect farming. Personal risk arises from human factor such as illness, accident, loss of asset, loss of income, labour shortage, death, divorce, fire outbreak, burglary or theft [8], [9]. Risks are absolutely inevitable in catfish production.…”

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

“…The mean household size and years in farming were 5 and about 8 respectively. On household size, and years in farming, Ugwuja et al (2017) and Ogunmefun and Achike (2017) respectively reported a similar outcome. The mean religion, credit access, gender, rearing system, and stock size were respectively 0.679, 0.400, 0.671, 0.636, and 22386.430.…”