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Risk management and finance along value chains of Small Island Developing States. Evidence from the Caribbean and the Pacific

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  • Angelucci, Federica
  • Conforti, Piero

Abstract

The paper analyses agricultural risks and risk management in selected Small Island Developing States which are part of the African Caribbean Pacific country group. Focus is on the value chains of fruits, vegetables and spices. A survey was conducted in Grenada, Jamaica, Fiji and Vanuatu, aimed at identifying sources of risk which are most important to value chain stakeholders; the nature and quality of existing and potential risk management mechanisms; and the possibility of enhancing them in view of improving the functioning of the value chains. The sample included farmers, processors, traders, retailers, extension agents, Government officials and private services providers. Results reveal limited ability to handle price and production variability, due to lack of both horizontal and vertical co-ordination along value chains, reduced use of support services, notably credit and underinvestment in equipment. In addition, lack of demand contributes to make insurance markets incomplete and characterised by undersupply or lack of customised products. Promoting light forms of vertical and horizontal co-ordination, such as production contracts and producers' associations, as well as value chain-based credit and finance may address some of the issues highlighted.

Suggested Citation

  • Angelucci, Federica & Conforti, Piero, 2010. "Risk management and finance along value chains of Small Island Developing States. Evidence from the Caribbean and the Pacific," Food Policy, Elsevier, vol. 35(6), pages 565-575, December.
  • Handle: RePEc:eee:jfpoli:v:35:y:2010:i:6:p:565-575
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    References listed on IDEAS

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    1. Patrick Guillaumont, 2010. "Assessing the Economic Vulnerability of Small Island Developing States and the Least Developed Countries," Journal of Development Studies, Taylor & Francis Journals, vol. 46(5), pages 828-854.
    2. Li, Baibing & Martin, Elaine B. & Morris, A. Julian, 2002. "On principal component analysis in L1," Computational Statistics & Data Analysis, Elsevier, vol. 40(3), pages 471-474, September.
    3. Harold Alderman & Trina Haque, 2007. "Insurance Against Covariate Shocks : The Role of Index-Based Insurance in Social Protection in Low-Income Countries of Africa," World Bank Publications, The World Bank, number 6736.
    4. World Bank, 2005. "Managing Agricultural Production Risk : Innovations in Developing Countries," World Bank Other Operational Studies 8797, The World Bank.
    5. Moseley, William G., 2001. "African evidence on the relation of poverty, time preference and the environment," Ecological Economics, Elsevier, vol. 38(3), pages 317-326, September.
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    Cited by:

    1. Jonathan Lashley & Koko Warner, 2015. "Evidence of demand for microinsurance for coping and adaptation to weather extremes in the Caribbean," Climatic Change, Springer, vol. 133(1), pages 101-112, November.
    2. Barlagne, Carla & Bazoche, Pascale & Thomas, Alban & Ozier-Lafontaine, Harry & Causeret, François & Blazy, Jean-Marc, 2015. "Promoting local foods in small island states: The role of information policies," Food Policy, Elsevier, vol. 57(C), pages 62-72.
    3. Bedek, Željka & Njavro, Mario, 2016. "Risks and Competitiveness in Agriculture with Emphasis on Wine Sector in Croatia," APSTRACT: Applied Studies in Agribusiness and Commerce, AGRIMBA, vol. 10(1).
    4. V. K. E. Duvat & A. K. Magnan & S. Etienne & C. Salmon & C. Pignon-Mussaud, 2016. "Assessing the impacts of and resilience to Tropical Cyclone Bejisa, Reunion Island (Indian Ocean)," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 83(1), pages 601-640, August.
    5. repec:taf:oaefxx:v:3:y:2015:i:1:p:1029250 is not listed on IDEAS

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