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• 1. [Article] Risk Perceptions and Risk Management Strategies of the Greek Mussel Farmers

  Mussel farming as an aquaculture activity based on the natural primary productivity, faces risks similar to those of the agriculture sector. Consequently, much theoretical risk research has been applied ...

  Citation × Citation Citation Abstract Copy Title: Risk Perceptions and Risk Management Strategies of the Greek Mussel Farmers Author: Tzovenis, Ioannis, Sorgeloos, Patrick, Viaene, Jacques, Theodorou, John A. Mussel farming as an aquaculture activity based on the natural primary productivity, faces risks similar to those of the agriculture sector. Consequently, much theoretical risk research has been applied to aquaculture as in agriculture, livestock, forestry, conservation and its management. Nevertheless, limited studies have so far focused on risk perceptions strategies of the aquaculturists. This study was conducted in the context of Mediterranean mussel farming risk assessment in order to explore the farmers perceptions of risk and risk management, to examine relationships between farm and farmer characteristics, and highlight the prevailing risk perceptions and strategies. The data were collected through a sampling survey of the Greek mussel farmers based on personal questionnaire-interviews. Results show that the ex-farm price of the mussels were perceived to be the major source of risk while the financial/credit reserves were the most preferred risk management strategy. Farmers seem to resort to such practices as the activity is characterized by negligible banking support, production unpredictability, marginal profitability and low turnover, all of these rendering it a high risk activity for the financial institutions. Finally, the farmers’ attitudes and comments on loss compensations bring up the need to develop a more effective and versatile insurance system. Title: Risk Perceptions and Risk Management Strategies of the Greek Mussel Farmers Author: Tzovenis, Ioannis, Sorgeloos, Patrick, Viaene, Jacques, Theodorou, John A. Mussel farming as an aquaculture activity based on the natural primary productivity, faces risks similar to those of the agriculture sector. Consequently, much theoretical risk research has been applied to aquaculture as in agriculture, livestock, forestry, conservation and its management. Nevertheless, limited studies have so far focused on risk perceptions strategies of the aquaculturists. This study was conducted in the context of Mediterranean mussel farming risk assessment in order to explore the farmers perceptions of risk and risk management, to examine relationships between farm and farmer characteristics, and highlight the prevailing risk perceptions and strategies. The data were collected through a sampling survey of the Greek mussel farmers based on personal questionnaire-interviews. Results show that the ex-farm price of the mussels were perceived to be the major source of risk while the financial/credit reserves were the most preferred risk management strategy. Farmers seem to resort to such practices as the activity is characterized by negligible banking support, production unpredictability, marginal profitability and low turnover, all of these rendering it a high risk activity for the financial institutions. Finally, the farmers’ attitudes and comments on loss compensations bring up the need to develop a more effective and versatile insurance system. Close