NL Journal of Agriculture and Biotechnology
(ISSN: 3048-9679)

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Farmers’ Demand for Agricultural Insurance in Vietnam

Author(s) : Tran Cong Thang, Truong Thi Thu Trang, Tran Thi Thuy.

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Abstract

This study was conducted to define risks in agriculture and determine farmers’ needs for agricultural insurance in Viet Nam. The research data was derived from direct interviews conducted with 210 households engaged in farming, livestock, and aquaculture activities. The analytical results show that both farming, livestock, and aquaculture households are negatively affected by natural disasters and diseases, in addition to grappling with escalating input and labor costs. While aquaculture and livestock households showed strong demand for agricultural insurance, rice farmers exhibited significantly lower interest. The factors influencing farmers’ demand for agricultural insurance vary depending on the agricultural products. For rice farmers, past negative experiences deter their participation in agricultural insurance, while dairy cattle farmers are more concerned about insurance premiums and claims procedures. On the other hand, white leg shrimp farmers focus more on the specific risks covered by the insurance. Keywords: Agricultural insurance, Rice, Dairy cow, White leg shrimp, Climate change, Sustainable agriculture.

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