ASSESSING RISKS MANAGEMENT STRATEGIES AMONG BACKYARD SNAIL FARMERS IN OWO METROPOLIS, ONDO STATE, NIGERIA

Abstract

just like any other farming enterprise is faced by a number of production militating risk factors, ranging from production through to marketing. Risk is a condition that relates to the possibility that yield or output levels will be lower than projected (Ibekwe & Andopara, 2016). Etchu et al. (2008) itemized snail production limiting risk factors to include climate change, pests and diseases as well as lack of good quality stock. In addressing production limiting factors called risk, farmers adopt risks management techniques for the purpose of ensuring optimum production. Risk management in agriculture is an essential tool employed by farmers to guide against production shock (OECD, 2011). Risks threatens output, returns and the overall performance of a farm business (Hamid & Chiaman, 2010). Hamid & Chiaman (2010), added that selecting appropriate risk The study was conducted to assess risk sources and management strategies employed in backyard snail farming in the study area. The study employed a snowball sampling procedure to select 29 respondents for the study. Data were collected with the aid of structured questionnaire. Data collected were analysed with the aid of descriptive statistics such as frequency count, simple percentage and standard deviation. Results of analysis showed that the mean age of the respondents was 50.55±5.1 years. Results also showed that 40.3% of respondents had no formal education while the mean year of production experience was 4.97±3.1. Results further showed that 100, 89.7 and 79.3% of respondents indicated climate change/drought, poor quality foundation stock and theft as major sources of risk in backyard snail farming while watering and building mini fence were the major risks management strategies employed in the study area. Snail producers should be encouraged to adopt right risk management strategies for efficient performance.