Analysis of Risks and Constraints Face by Cashew Farmers in Ogbomosho, Oyo State, Nigeria

Mercy Funke Salami, Julius Bello, Kehinde Kikelomo Osasona and Rukayat Olajumoke Ibrahim

Western Balkan Journal of Agricultural Economics and Rural Development (WBJAERD), 2024, vol. 6, issue 01

Abstract: Research has focused on cashew production, profitability, and marketing. However, the risks and constraints faced by cashew farmers have yet to receive sufficient attention. Hence, this study was conducted to examine the risks and constraints faced by cashew farmers and the management techniques adopted to curtail these challenges in Ogbomosho, Oyo state, Nigeria. The data for this study was gathered from 120 cashew farmers who were randomly selected via a two-stage sampling procedure. The study used descriptive statistics to examine the socio-economic characteristics of the respondents and to profile the risks and constraints management strategies adopted by the cashew farmers. Index ranking was used to analyze the various risks and challenges faced by cashew farmers. As major risks faced by cashew farmers were price fluctuation, theft, and adverse weather conditions, while the most pressing constraints were poor access to extension services and inadequate access to storage facilities. Enterprise diversification, off-farm income, insurance, and contractual farming arrangements were the major risk management strategies adopted by the cashew farmers. Policies that would aid the stabilization of cashew prices should be put in place. More so, extension services should be made available to cashew farmers alongside the provision of stress-tolerant cashew cultivars.

Keywords: Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iepwbj:343139

DOI: 10.22004/ag.econ.343139

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