FACTORS INFLUENCING RISK MANAGEMENT STRATEGIES AMONG RICE VALUE CHAIN ACTORS IN KEBBI STATE, NIGERIA

Abstract

The study analysed factors influencing risk management strategies among rice value chain actors in Kebbi State, Nigeria. The study employed multi-stage sampling techniques in the selection of 400 rice value chain actors from the four Local Governments Areas within the four agricultural zones of the state. Primary data were sourced through field survey with the aid of structured questionnaire. Farm budgeting was used in data analysis. The result of the Logistic regression estimates shows that the significant factors influencing the use of risk management practices by the actors in the study area were age of rice input suppliers (P<0.01), years of  experience (P<0.01) and monthly income (P<0.01), also age of rice produces were significant (P<0.01), household of rice producers had a negative coefficient and significant (P<0.10) and years of farming experience is significant (P<0.01), the age, sex, marital status and years of rice processors all had a positive coefficient and significant (P<0.01), similarly, the age, years of marketing experience and membership of cooperative society were all significant (P<0.01), while, rice consumers age and marital status were significant (P<0.01), sex, household size and years of experience were significantly (P<0.05) influencing the risk management practices in the study area. It can be concluded that age, sex, marital status, level of education, years of experience, monthly income, household size and membership of cooperative society were the factors that significantly influencing risk management practices in the study area. The study recommends that there should be adequate institutional supports in form of functional extension services and policies that will help boost the socio-economic welfare of the actors as this will significantly propel an increase in the choice effective risk management strategies in the area.