ASEESSMENT OF KNOWLEDGE LEVEL OF AGRICULTURAL INSURANCE AMONG ARABLE CROPS FARMERS IN ORIIRE LOCAL GOVERNMENT OF OYO STATE
Abstract
The study assessed the knowledge level of agricultural insurance among the arable crop farmers in Orire Local Government Area of Oyo State. Specifically, the study described the socio- economic characteristics of the farmers, determined the level of use of agricultural insurance among the farmers, identified the benefits of taking up agricultural insurance among the respondents, examined the constraints to agricultural insurance among the respondents and identified the risks factors confronting farmers in taking up agricultural insurance.
Multistage sampling technique was used in selecting 90 respondents for the study. Data was collected with the aid of well-structured interview schedule and analyzed with both the descriptive (Frequency, percentage and mean) and inferential (regression analysis) statistical tools.
Thedescriptivesstatisticsrevealedthatthemeanageoftherespondentswasfoundtobe50.2±
10.2 years. 64.4% of the respondent’s male while 36.6% were female. Majority (93.3%) of the arable farmers were aware of agricultural insurance, and 52.2% of the arable farmers had a moderate knowledge level of agricultural insurance. Enhancement of farmers ability to obtain credit and financing for investment in new technologies, tools, and equipment to sustain their productive capacity was ranked first with WMS of 1.92 under the benefits of agricultural insurance. Also, constraints to the use of agricultural insurance revealed that inadequate infrastructure & support services ranked first with Weighted means score (WMS) of 1.79, while for risk in farming, seed quality ranked first with Weighted Mean Score of 1.79. There was a significantrelationshipbetweenselectedsocio-economiccharacteristicssuchasmaritalstatus(t
= -2.954, p = 0.004), highest level of education (t = -4.173, p = 0.000), farm size (t = 2.012, p = 0.048), and yam cultivation (t = 3.551, p = 0.001) and the knowledge level of agricultural insurance among the arable crop farmers in the study area
It can be concluded from the study that majority of the respondents were male, getting old, married, and with relatively high average farming experience who were aware of agricultural insurance. It revealed that slightly more than half of the respondents had a moderate knowledge level of agricultural insurance in the study area. The study recommended that there is need for educational or simplified communication strategies to improve insurance knowledge among less educated farmers
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