Risk perceptions and risk management strategies among poultry farmers in south-west Nigeria

Figures & data

Table 1. General characteristics of the poultry farmers

Variables (n = 263)	Percent	Mean	Std. dev.	Min.	Max.
Age (years)		43.41	9.358	24	83
Sex (male)	76.81
Years of schooling		13.63	3.393	6	22
Household size		4.79	1.895	3	10
PAN membership (yes)	38.02
Cooperative membership (yes)	41.44
Poultry experience (years)		19.48	6.736	8	30
Poultry value (₦)		3,891,871	303,502	599,685	4.15e+07
Credit access (yes)	35.36
Extension access (yes)	15.97
Veterinary access (yes)	81.37
Agricultural insurance certificate (yes)	35.74

Note: 1 $ is equal to ₦503 market rate as at the time of the survey.

Source: Authors’ estimates.

Table 2. Mean, standard deviation and varimax rotated factor loadings of relevant risk perceptions by Poultry Farmers

Sources of risk	Mean	Std. dev.	Important factors 1 2 3
Outbreak of disease	4.243	0.905	0.705
Fluctuation of output prices	4.082	0.498		0.599
Credit availability	3.936	0.990		0.671
Fluctuation of input prices	3.818	0.501		0.468
Drug and Vaccine failure	3.561	0.888	0.602
Pilfering/Theft	3.538	0.986			0.698
Unavailability of input	3.335	1.094		0.422
Unpredictable poultry output	3.229	0.817	0.691
Policy changes	3.220	1.139
Changes in income from other sources	3.175	0.995		0.507
Contaminated feed	3.003	0.911			0.542
Contaminated water	2.961	0.849
Inefficient workers	2.789	0.955			0.453
Heat stress	2.562	1.001	0.569
Stampeding	2.103	0.327
Flooding	1.959	0.524	0.407

Note: Blank implies variable loading of <0.3.

Factors 1, 2 and 3 stand for production risk, financial risk and human risk, respectively.

Source: Authors’ estimates.

Table 3. Mean, standard deviation and varimax rotated factor loadings for risk management strategies used by poultry farmers

Risk management strategies	Mean	Std. dev.	Important factors 1 2
Proper and timely medication/vaccination	4.527	1.020	0.768
Biosecurity measures	4.302	1.059
Buying birds from reputable sources	4.242	1.059	0.586
Relaxation of pen	4.053	1.125	0.628
Proper feed and water management	3.985	0.998	0.522
Mixed farming	3.843	1.231		0.640
Diversification	3.592	0.050		0.794
Non-farm income	3.374	1.037		0.568
Purchase of disease resistant breeds	3.176	0.060	0.342
Contractual agreement with input suppliers	3.009	1.103		0.436
Credit borrowing	2.984	1.146		0.881
Pre-purchase of inputs	2.775	1.152		0.392
Selling of assets	2.684	1.209		0.332
Agricultural insurance	2.563	1.135		0.305

Note: Blank implies variable loading of <0.3.

Factors 1 and 2 stand for disease prevention risk management and financial risk management strategies, respectively.

Source: Authors’ estimates.

Table 4. Results of multiple regressions for risk management strategies

Independent variables	Disease prevention strategy Coefficient P>|t|		Financial strategy Coefficient P>|t|
Age	0.838	0.404	0.406	0.651
Sex	−0.005	0.987	−0.142*	0.097
Years of schooling	0.070*	0.078	0.016	0.140
Household size	−0.134**	0.042	−0.019	0.456
Years of experience in poultry	0.076***	0.000	0.011**	0.044
Value of poultry	0.093***	0.000	0.101***	0.007
Other household income	−3.67e-07	0.357	−3.32e-08	0.754
Credit access	0.066	0.838	0.003	0.971
Extension services access	0.058	0.859	0.019	0.831
Agricultural Insurance	−0.016	0.909	0.053	0.172
Production risk	0.307***	0.004	0.055*	0.052
Financial risk	0.059	0.412	0.442***	0.000
Human risk	0.221**	0.027	−0.017	0.526
Constant	1.437	0.192	16.054***	0.000
R^2 adj. Prob > F =	0.687*** 0.000		0.710*** 0.008

Note: *, ** and *** represent 10%, 5% and 1% level of significance, respectively

Source: Authors’ estimates.