2012 Autumn - Managing uncertainty in the world’s riskiest business

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FPJ0901 - Anton, J, Kimura, S, Measuring Risk in Agriculture and Implementing Good Risk Management Policies

 Anton, J, Kimura, S, Measuring Risk in Agriculture and Implementing Good Risk Management Policies, Farm Policy Journal Vol9 No4 pp 1-9, Australian Farm Institute, Sydney

This article proposes an approach to risk management in agriculture that is based on a broad assessment of the full set of risks, tools and strategies, and identifies three different layers of risk that deserve different policy responses. For good risk management, the assessment and measurement of farming risks need to be made at the individual farm or farm household level and risks can be compared through their impact on the variability of income. There is evidence that the correlation among some risks, such as between input and output prices, can contribute to smoothing the impact of shocks on income. Government policies are part of the risk environment and they can discourage proactive farm risk management. Policy should preferably focus on assistance for catastrophic risks that are rare and cause significant damage. Governments also have a role in facilitating good information and regulation conditions for the development of market based instruments and other private solutions. The paper is based on Organisation for Economic Co-operation and Development (OECD) work under the project on risk management in agriculture, in particular the recent publication Managing risk in agriculture: policy assessment and design (OECD 2011), available at: www.oecd.org/agriculture.

$12.10


 
 




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Farm Policy Journal - Vol 8 No 3 2011 Spring - Full Journal - A private future for food and fibre quality

Farm Policy Journal, Vol. 8, Number 3, Spring 2011, A private future for food and fibre quality, Australian Farm Institute, 76 pp

ISSN: 1449-2210 (print), 1449-8812 (online) 

Historically, public authorities specified safety and quality standards for agricultural products, and provided reassurance to consumers that products were safe. Increasing consumer demands and the rise of food and fibre brands, and retailer brands have led to the development of private quality and safety standards. These private standards are a form of risk management for food and fibre brands, and retailers; but also create barriers to entry and exit for farmers supplying these brands and retailers. The Spring 2011 Farm Policy Journal sheds light on the pros and cons for the farming sector of these new trends – analysing impacts on domestic and international trade and economics. The Journal also provides useful tools for upgrading your knowledge of this topic, including a lexicon, and case studies from China and South-East Asia.

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