FARMERS' SATISFACTION TOWARDS MAJOR CROP RICE INSURANCE CHARACTERISTICS: THE CASE OF KHON KAEN FARMERS

Supanida Ngiwdee and Ravissa Suchato Author-Email : Rsuchato@gmail.com
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Ravissa Suchato Author-Email : Rsuchato@gmail.com: Department of Agricultural and Resource Economics,Faculty of Economics,Kasetsart University,Thailand

No 201504, Working Papers from Kasetsart University, Department of Agricultural and Resource Economics

Abstract: The objectives of this research were to 1) study farmers' perceptions on crop insurance of first rice and 2) examine key characteristics of crop insurance as viewed by farmers. A field survey was conducted to interview 246 famers. The research findings were as follows 1) overall perception of 109 farmers who had purchased the insurance in the past on 17 key characteristics is satisfactory 2) a conjoint analysis exercised on desirable characteristics found that bundling insurance premium with credit is the most preferred option. The second characteristic related to the level of indemnity covered. The last characteristic was the level of premium charged. Among all of the attributes offered, the most preferred option containing attributes consisted of 1) bundling insurance premium with production factor, 2) threshold yield of 276 kilogram per rai; 3) premium payable of 100 Baht; and 4) maximum indemnity of 1,700 Baht per rai.

Keywords: Crop insurance; Area yield index; Major rice; Conjoint analysis (search for similar items in EconPapers)
JEL-codes: Q10 Q13 Q18 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2015-03
New Economics Papers: this item is included in nep-agr, nep-ias and nep-sea
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Published in ARE Working Paper No. 2558/3 (March 2015)

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