Factors Affecting Cattle Insurance Purchase and its Effects on the Financial Situation of Dairy Farmers
Price: ₹ 500
Author: G.V. Rohith, G. Makarabbi and S.C. Ravi
Author Address: Department of Agricultural Economics, SAS, Nagaland University, Medziphema-597106 (Nagaland), Central Institute for Research on Buffaloes, Hisar-125001 (Haryana) and Central Institute for Subtropical Horticulture, Lucknow-226101 (Uttar Pradesh)
Keywords: Adoption, cattle insurance, factors, income stabilization.
JEL Codes: C31, C35, D81, G22.
Abstract
The results of the study indicated that the age of the respondents, the type of animals reared, herd size, and membership in dairy cooperatives and districts significantly influenced the adoption of cattle insurance. The education of the respondent, herd size, the type of animal holding, and membership in dairy cooperatives significantly influenced the willingness to pay for cattle insurance. Willingness to pay was found to be less than the actual payment for the cattle insurance premium, and it was more in the case of crossbreds than other categories of animals. The type of animal and membership in dairy cooperatives had a positive and significant influence on the actual level of payment for cattle insurance. The landholding size, animal herd size, and non-farm occupation, along with dairying, had a positive influence, and the loss of animals had a negative impact on the net- income of the farmers. Finally, it can be concluded that cattle insurance is one of the best risk mitigation strategies to help farmers stabilize their income under risks and uncertain situations.
Description
Indian J Econ Dev, 2024, 20(2), 275-284
https://doi.org/10.35716/IJED-23319