A Sustainable Risk Management Model and Instruments for Young Farmers in EU Agriculture

Aleksandra Figurek (), Katerina Morphi and Alkis Thrassou
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Aleksandra Figurek: GNOSIS Mediterranean Institute for Management Science, School of Business, University of Nicosia, 2417 Nicosia, Cyprus
Katerina Morphi: Department of Accounting, Economics and Finance, School of Business, University of Nicosia, 2417 Nicosia, Cyprus
Alkis Thrassou: GNOSIS Mediterranean Institute for Management Science, School of Business, University of Nicosia, 2417 Nicosia, Cyprus

Sustainability, 2023, vol. 16, issue 1, 1-24

Abstract: Young farmers are ready to embrace innovation, smart agriculture, and science-based research to ensure that their work has long-term viability, profitability, and productivity. To prevent the farming population from aging and to ensure farming success, financial support must be provided through instruments that are specifically aimed at young farmers. It is necessary that youth have access to agricultural land policy throughout the EU for the agricultural sector to remain sustainable. In the European Union, young farmers manage farms that are in the lowest-size group. The limited financial possibilities available to young people in the EU exacerbate this. The relationships between risk management instruments and other interventions (such as direct payment and ex-post instruments) and the integration of these tools into national and EU policy frameworks must be thoroughly examined in future policy. Evaluating the possible repercussions of risk management being widely implemented as well as measuring the anticipated variations in farm revenue and the volatility of agricultural commodity prices are equally crucial. Therefore, the present article utilized extant data to conduct a comparative analysis and ultimately present a set of multidisciplinary and quantitative indicators of supportive measures for young farmers in the EU, while also identifying the requisite areas for improvement.

Keywords: young farmers; sustainability; data; risk management; knowledge; EU (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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