Agricultural Risk Management
Agricultural Risk Management refers to the strategies and practices that farmers and agricultural businesses use to minimize the potential negative impacts of risks associated with farming. These risks can include unpredictable weather, pests, market fluctuations, and changes in government policies. By identifying and assessing these risks, farmers can develop plans to protect their crops and income.
Effective risk management can involve various tools, such as crop insurance, diversification of crops, and financial planning. By implementing these strategies, farmers can enhance their resilience against uncertainties, ensuring more stable production and profitability in the face of challenges.