Risk management strategies in food crop production in Ikwuano Local Government Area of Abia State, Nigeria

Abstract

The study tried to analyze risk management strategy in some selected food crop products in Ikwuano Local Government Area of Abia State. A structured questionnaire was employed to collect relevant primary data from 95 food crop respondents from four clans that constitute the local government area. Descriptive statistics and multiple regression analysis technique were used for data analysis. The results showed that the predominant risks in the study area are natural, social as well as destruction by animals. It was noted that 95.84 % of the respondents faced pests and disease attack as the major food crop risk. The respondents adopted modern and traditional ways of managing risk. Farm size, average prices of food crops, inputs and off-farm income were major significant factors influencing the reduction of risk on the output of the farmers. The study therefore suggests that farmers as a matter of urgency should be educated so as to enable them appreciate and imbibe the use of modern techniques to combat risk. Farmers should be encouraged to own large farm size to promote diversification of crops as well.