Risks and determinants of risk management strategies among rural cassava-based farmers in Imo State
Cassava-based farmers are faced with a lot of risks and uncertainties and this results to low agricultural output and hinders the rural farmers from pursuing their farming activities as an enterprise. The study assessed the risks and determinants of risk management strategies among rural cassava-based farmers in Imo State. A multistage sampling technique was used in the selection of respondents. Data were collected with the use of structured questionnaire administered to 180 respondents. Multinomial logit regression model was used to determine the factors influencing the choice of risk management strategies among rural cassava-based farmers in the study area. Results of the study showed that the farmers were of middle-age, fairly educated and have average farm size of one hectare. Majority of the farmers identified loss of crop due to disease (76.11%) and loss due to erosion (73.89%) as sources of risk farmers were exposed to. Also greater number of the respondents adopted practicing of mixed cropping and planting of disease resistant species as risk management strategies. The result of the study also confirmed that age, gender, educational level and farm income were the major determinants of the farmers’ choice of risk management strategies. It was recommended that government should make extension services functional and provide policies that will help boost the socio-economic welfare of farmers as this will significantly propel an increase in the choice effective risk management strategies in the area.
Keywords: Risk management, risk management strategies, cassava based farmers.