Perceptions of wheat producers towards risk and risk management strategies: A case study from Turkey

Abstract

ABSTRACT: In this study, risk perception of wheat producers in Turkey was examined based on a case study conducted in Bitlis Province. The data set used in the study was obtained from 157 farmers randomly. Factor analysis was employed to classify risk sources and management strategies, and then multiple regression was used to investigate the relationship between farmers perceptions and some characteristic. Results of this study have shown that economic-based risks were perceived more strongly by farmers. Farmers’ also used more than one risk management strategy to minimize the impact of the risks they face. So, in order to ensure social and economic sustainability and predictability in wheat production and wheat market, the government should be considered preventive policy instruments and interventions to prevent fluctuations in input and output prices.

Keywords

• risk
• risk management
• wheat
• Turkey