Assessment of risk management strategies among poultry farmers in Anambra State, Nigeria
DOI:
https://doi.org/10.61326/jofbs.v5i2.01Keywords:
Poultry risk, Management strategies, Assessment, Multinomial logistic regressionAbstract
The greatest threat to profitability and sustainability of the poultry enterprise is risk. Identification and assessment of risk mitigation level is important for policy formulation. Therefore, this study assessed risk management strategies among poultry farmers in Anambra State, Nigeria. A two-stage sampling technique that purposively selected six Local Government Areas: Ogbaru, Ihiala, Awka South, Anambra West, Anaocha and Idemili North based on the State Agricultural Development Program information on poultry farmers’ concentration. Twenty poultry farmers were then selected randomly from each LGA. A structured questionnaire was used to elicit information from farmers. Data collected were socio-economic characteristics, risks encountered, and the management strategies used. Data were analyzed using descriptive (mean, standard-deviation and bar-chart) and inferential statistics, Multinomial logit model at 0.05 level. The categories of risk identified with the level of exposure were production/technological and health risks (100%), market/price risk (81.2%), institutional risk (55.2%), financial/credit risk (94.2%), environmental risk (67.2%) and human and personnel risk (59.1%). The categorization of farmer by their risk management strategies showed: biosecurity strategies (4.32±0.22), production strategies (4.22±0.43), mitigation/risk reduction strategies (3.30±0.68), other risks coping strategies (2.42±0.89), transfer measures/institutional strategies (1.05±0.30), marketing strategies (3.98±0.71), and financial strategies (2.4±0.87). Capital invested (p<0.001), cooperative society (p<0.001), disease outbreaks (p<0.001), livestock insurance (p<0.001), and government policy(p<0.001), were the major determinants of the risk management level. The study recommended adequate funding, insurance policy and training to minimize risk.
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