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 This study analyzed the risk preference and insurance purchase by rice farmers in Enugu State. Nigeria. This research is as a result of concentration of many studies on agricultural insurance purchase, which centres on the analysis of risk preference, awareness of insurance purchase by rice farmers with little emphasis on the specific issues such as the different mechanisms and risk preference of rice farmers especially in the study area. The aim of the study was to analyse risk preferences and insurance purchase by rice farmers in Enugu State, Nigeria. The specific objectives were to: examine the socio-economic characteristics of rice farmers in the study area, examine the rice farmers’ awareness and perception of insurance and risk, identify the different insurance mechanisms and products used by rice farmers, ascertain the willingness of the rice farmers to pay for agricultural insurance and factors that influence willingness to pay for insurance, and identify the constraints encountered by rice farmers in participating in agricultural insurance in the study area. The study used survey design which covered the three agricultural zones of Enugu state. A three stage random sampling techniques was used to select 140 rice farmers in Enugu State. The selection was based on prior information from Enugu State Agricultural Development Project and national agricultural insurance company. First, four (4) Local Government Areas involved in rice productions was purposively of five (5) farm communicates from each of the four (4) Local Government Areas, Third, Seven (7) rice farmers were randomly selected from each Community making a total of one hundred and forty (140) respondents. Primary and Secondary data were used for this study. Primary and secondary Data were analyzed using descriptive statistics and Binomial logit regression analysis. It was shown that Majority (61.43%) of the rice farmers were male and many (42.14%) of them fell within the age bracket of 31-40 years. About 56 percent of them married while many (34.29%) of them had secondary education. Also, majority (61.43%) were aware of the insurance scheme but did not subscribe to it. The major source of information was fellow farmers. Rice farmers perceived agricultural insurance as essential risk management tools, but awareness of the scheme was poor, generation about the scheme is poor. However, farmers risk perception shows that the price of fertilizer (2.84%), output price (2.09%), access to credit (2.87%), pest and diseases (2.59%) and unpredictable weather (3.00%) were ranked high. The major strategies adopted by farmers are formal and informal insurance mechanism which were borrowing from members(28.03%), savings and sales (27.57%) while crop diversification (40.08%), inter-cropping (26.29%) and farm fragmentation(20.68%) where the strategies adopted by rice farmers to minimize risk shock in their crop production. Age and education qualification had positive signs and were statistically significant(p
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Project detailsContents
Number of Pages75 pages
Chapter one Introduction
Chapter two Literature review
Chapter three  methodology
Chapter  four  Data analysis
Chapter  five Summary,discussion & recommendations
Chapter summary1 to 5 chapters
Available documentPDF and MS-word format


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