University Gadjah Mada Researchers Update Current Study Findings on Agriculture (Determinant Factors for Cattle Insurance as a Risk Management Strategy): Agriculture

2021 NOV 17 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Fresh data on agriculture are presented in a new report. According to news reporting out of the University Gadjah Mada by NewsRx editors, research stated, “Cattle farmers in Gunungkidul Regency face several cattle diseases such as Helminthiasis, Anthrax, Downer Cow Syndrome, and Intoxication in which these diseases mostly attack female cows.”

The news editors obtained a quote from the research from University Gadjah Mada: “To prevent financial loss for the farmers, the government facilitates them with cattle insurance. This study aims to determine the reasons and the cattle farmers’ willingness-to-pay for the cattle insurance by conducting a survey addressed to 100 cattle farmers and identifying the factors related to it. This study used a Contingent Valuation Method in estimating the cattle farmer’s WTP. The various factors that influence the farmer’s WTP were analyzed by using natural logarithm regression models. Based on the results of the study, it was found that the willingness-to-pay for cattle farmers who did not participate in cattle insurance are 22,600 IDR and farmers who participate in cattle insurance are 36,320 IDR. Education, household income, and farmers’ interest in the insurance were positively effecting toward the farmers’ willingness-to-pay.”

According to the news editors, the research concluded: “However, age and the number of families showed the negative ones toward the farmers’ willingness-to-pay.”

For more information on this research see: Determinant Factors for Cattle Insurance as a Risk Management Strategy. Agriekonomika, 2021,10(1):113-124. (Agriekonomika - http://journal.trunojoyo.ac.id/agriekonomika/index). The publisher for Agriekonomika is Trunojoyo University of Madura.

A free version of this journal article is available at https://doi.org/10.21107/agriekonomika.v10i1.10147.

Our news journalists report that additional information may be obtained by contacting Amelia Dwi Nugrahaini, Universitas Gadjah Mada.

(Our reports deliver fact-based news of research and discoveries from around the world.)