Livestock Risks and Indemnity Insurance in the West Region, Cameroon

Emmanuel Ebai Enow Oben, Humphrey Ngala Ndi and Louis Bernard Tchuikoua

Asian Journal of Agricultural Extension, Economics & Sociology, 2024, vol. 42, issue 3, 14

Abstract: Several risks threaten poultry and pig farming in the West Region of Cameroon. Notwithstanding, the absence of insurance has limited farmers’ risk management options and prevented them from bouncing back rapidly from significant losses. This research explores poultry and pig farming risks and the implications for farming insurance schemes in the West Region of Cameroon. To achieve this, 430 poultry and pig farmers were sampled through a cluster and snowball sampling technique in the Mifi, Bamboutos, Upper-Plateau and Koung-Khi Divisions. The risks farmers faced were assessed as low, medium and high, depending on their likelihood of occurrence and potential impact. Farmers' experiences of livestock losses supported this information. Data on the risks farmers would like to get insurance for was analysed using descriptive statistics. Research results revealed that 75% of risks faced by poultry farmers are ranked low, while 25% are medium. For pig farmers, 64% of risks are low, 27% are medium, and 9 % are high. Diseases (epidemic and non-epidemic) and market/price risks are among the top three risks pig and poultry farmers face. Many farmers are willing to get insurance for epidemic diseases (31.5%) and non-epidemic diseases (26.6%). Most farmers in the Bamboutous Division are more willing to get insurance for non-epidemic diseases (54.5%) and epidemic diseases (32.8%). Comparatively, farmers in the Mifi Division are more willing to get insurance for epidemic diseases (46.7%) and less for non-epidemic diseases (1.5%). Insurance companies can start piloting a disease and market/price fall insurance scheme in the Mifi and Bamboutos Divisions. These companies can create awareness of the importance of livestock insurance through the Interprofessional Association of Pig Farmers and the Interprofessional Association for Poultry Farmers in the West Region.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Date: 2024
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