Agricultural Risk Financing Strategies and Food Safety Control: Evidence from Selected Smallholder Farmers in Ekiti State, Nigeria

Abstract

Increasing agricultural risk financing methods can help farmers make more money and guarantee good property protection. They are also effective tools for maintaining food safety and management. The relationship between food safety and control metrics and agricultural risk financing strategies among smallholder farmers in Ekiti State was investigated in this study. The study used a cross-sectional survey design with double sampling, which included convenience and judgmental sampling. A structured questionnaire was used in the study to collect information from 121 participants in the sample population. In the data analysis, descriptive statistics and a basic regression technique was used. This study therefore confirmed a positive nexus between agricultural risk financing strategies and food safety and control in Ekiti State, Nigeria. In an effort to support farmers' output capacities, the agricultural insurance providers should improve and broaden their value-chain procedures. To provide more farmers access, the government should broaden the subsidy network. It is true that insurance companies should create their agriculture insurance plans in the most straightforward and palatable way possible in order to win over farmers' trust and business. In order to generate cash for agricultural cooperators to supply food and manage potential risk factors that can arise, agricultural cooperative societies should be reinforced.