In order to accurately determine risks that
agricultural producers in the Mid-Atlantic states face; a survey was developed
that asked producers from diverse agricultural backgrounds to rate their risk
management concerns. (A copy of this
survey has been provided to the reader for reference).
The application of these survey results allowed for us to design this
series of risk management workbooks according to those risks that command your
attention. The following workbook is
intended to provide the reader with common risk management concerns that exist
amongst our modern agricultural producers.
Farmers were asked to rank risk according to
its level of importance in their operation on a scale of 1 to 5; with 1 least
important and 5 most important.
On average, fruit producers indicated that
their risk of primary concern is production risks; while human resource risks
are of limited concern.
The following list represents how fruit
producers ranked the five areas of risk from most important to least important:
1. Production Risk
2. Legal Risk
3. Marketing Risk
4. Financial Risk
5. Human Resource Risk
Of these major risk areas producers ranked the following risk management tools according to how well they addressed each risk. The anatomization of the five areas of risk and how farmers ranked them are provided in the following graphs. The numbers after each respective risk and/or tool indicates the average ranking results from the producer survey.