IDEAS home Printed from https://ideas.repec.org/a/ags/ijfaec/156837.html
   My bibliography  Save this article

Willingness To Take Agricultural Insurance By Cocoa Farmers In Nigeria

Author

Listed:
  • Falola, Abraham
  • Ayinde, Opeyemi Eyitayo
  • Agboola, Babatola Olasunkanmi

Abstract

This study examines willingness to take agricultural insurance by cocoa farmers in Nigeria. A three-stage sampling procedure was used to select 120 cocoa farm households and structured questionnaire was used to elicit data from the respondents. The data were analysed with descriptive statistics and probit regression model. Results showed that 77.5% of the farmers were aware of Agricultural Insurance but only 50% were willing to take it. The average willingness-to-pay (WTP) for Agricultural Insurance by the respondents was N11,087.5/ha ($69.85/ha). The significant variables influencing willingness to take agricultural insurance by the farmers were age of household head, educational level, access to extension service and farm income. The study therefore recommends encouraging young well educated people to engage in cocoa farming, overhauling agricultural extension services as well as provision of insurance services to farmers at affordable rate.

Suggested Citation

  • Falola, Abraham & Ayinde, Opeyemi Eyitayo & Agboola, Babatola Olasunkanmi, 1. "Willingness To Take Agricultural Insurance By Cocoa Farmers In Nigeria," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 1.
  • Handle: RePEc:ags:ijfaec:156837
    as

    Download full text from publisher

    File URL: http://purl.umn.edu/156837
    Download Restriction: no

    References listed on IDEAS

    as
    1. Ashok Mishra & Barry Goodwin, 2006. "Revenue insurance purchase decisions of farmers," Applied Economics, Taylor & Francis Journals, vol. 38(2), pages 149-159.
    2. Piyasiri, A.G.S.A. & Ariyawardana, A., 2002. "Market Potentials and Willingness to Pay for Selected Organic Vegetables in Kandy," Sri Lankan Journal of Agricultural Economics, Sri Lanka Agricultural Economics Association (SAEA), vol. 4.
    3. Raje, D. V. & Dhobe, P. S. & Deshpande, A. W., 2002. "Consumer's willingness to pay more for municipal supplied water: a case study," Ecological Economics, Elsevier, vol. 42(3), pages 391-400, September.
    Full references (including those not matched with items on IDEAS)

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ijfaec:156837. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/iiaaktr.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.