Measuring Risk Levels and Efficacy of Risk Management Strategies in Vietnamese Catfish Farming
Although the Vietnamese catfish farming has grown
at very high rates in recent years, the industry has also faced many
problems affecting its sustainability. This paper studies the
perceptions of catfish farmers regarding risk and risk management
strategies in their production activities. Specifically, the study aims
to measure the consequences, likelihoods, and levels of risks as well
as the efficacy of risk management in Vietnamese catfish farming.
Data for the study were collected through a sample of 261 catfish
farmers in the Mekong Delta, Vietnam using a questionnaire survey
in 2008. Results show that, in general, price and production risks
were perceived as the most important risks. Farm management and
technical measures were perceived more effective than other kinds of
risk management strategies in risk reduction. Although price risks
were rated as important risks, price risk management strategies were
not perceived as important measures for risk mitigation. The results
of the study are discussed to provide implications for various
industry stakeholders, including policy makers, processors, advisors,
and developers of new risk management strategies.
[1] Make catfish farming environmental friendly (Vietnamese),
http://kinhtenongthon.com.vn/Story/kinhtethitruong/
2007/11/7593.html. 2007.
[2] MOFI, Annual Report of Vietnam. 2005, Ministry of Fisheries, Vietnam.
[3] N. Pham. Catfish Export: A Big Win (Vietnamese), Rural Economic
Times, webpage: http://kinhtenongthon.com.vn. 2008.
[4] MOFA. Making Tra fish becomes major export industry (Vietnamese),
http://www.mofa.gov.vn. 2009.
[5] V. B. Tu, Before and After the Catfish War: Market Analysis. CAS
Discussion paper, 2006(50) (unpublished).
[6] AGRO. Catfish Rearing: No Contract, No Rearing (Vietnamese),
http://www.agro.gov.vn/news/newsdetail.asp?targetID=12611. 2009.
[7] J. Harwood, R. Heifner, K. Coble, J. Perry, and A. Somwaru, Managing
Risk in Farming: Concepts, Research, and Analysis. 1999, Economics
Research Service, U.S. Department of Agriculture: Washington D.C.
[8] G. R. Patrick, P. N. Wilson, P. J. Barry, W. G. Boggess, and D. L.
Young, Risk Perceptions and Management Responses: Producer-
Generated Hypotheses for Risk Modeling. Southern Journal of
Agricultural Economics, 1985(December, 1985): p. 231-238.
[9] M. P. M. Meuwissen, R. B. M. Huirne, and J. B. Hardaker, Risk and
Risk Management: an empirical analysis of Dutch livestock farmers.
Livestock Production Science, 2001(69 (2001)): p. 43-53.
[10] D. C. Hall, T. O. Knight, K. H. Coble, A. E. Baquet, and G. F. Patrick,
Analysis of Beef Producers' Risk Management Perception and Desire for
Further Risk Management Education. Review of Agricultural
Economics. 25(2): p. 430-448.
[11] O. Flaten, G. Lien, M. Koesling, P. S. Valle, and M. Ebbesvik,
Comparing risk perception and risk management in organic and
conventional dairy farming: empirical results from Norway. Livestock
Production Science, 2005 (95 (2005) ): p. 11-25.
[12] A. Giuffrida, Application of Risk Management to the Production Chain
of Intensively Reared Fish. Veterinary Research Communication 2003.
27 (Suppl. 1): p. 491-496.
[13] X. S. Le, Issues Related to Sustainable Farming of Catfish (Pangasius
spp.) in Vietnam, in Species and System Selection for Sustainable
Aquaculture, P. Leung, Lee, C. S., O'Bryen, P. J., Editor. 2003,
Blackwell Publishing
[14] R. G. Doupe, J. Alder, and A. J. Lymbery, Environmental and product
quality in finfish aquaculture development: an example from inland
Western Australia. Agriculture Research, 1999. 30: p. 595-602.
[15] C. E. Boyd, Effluents from catfish bonds during fish harvest. Journal of
Environmental Quality, 1978. 7: p. 59-62.
[16] J. E. Ellis, D. L. Tackett, and R. R. Carter, Discharge of solids from fish
ponds. Prog. Fish Culture, 1978. 40: p. 165-166.
[17] W. D. Hollerman and C. E. Boyd, Effects of annual draining on water
quality and production of channel catfish in ponds. Aquaculture, 1985.
46: p. 45-54.
[18] C. K. Lin and Y. Yi., Minimizing environmental impacts of freshwater
aquaculture and reuse of pond effluents and mud. Aquaculture, 2003.
226: p. 57-68.
[19] D. L. Stanley, The economics of the adoption of BMPs: the case of
marine-culture water management. Ecological Economics, 2000. 35: p.
145-155.
[20] J. Hopkins, P. Sandifer, and C. Browdy, A review of water management
regimes which abate the environmental impacts of shrimp farming, in
Swimming through Troubled Water: Proceedings of the Special Session
on Shrimp Farming. Abstracts of the Meeting of the World Aquaculture
Society. C. Browdy and J. Hopkins, Editors. 1995, WAS, Baton Rouge,
LA: Sandiego, CA February 1-4.
[21] F. Dieberg and W. Kiattisimkul, Issues, impacts and implications on
shrimp aquaculture in Thailand. Environmental Management, 1996(20):
p. 649-666.
[22] A. Reilly and F. Kaferstein, Food safety hazard and the application of
principles of the hazard analysis and critical control point (HACCP)
system for their control in aquaculture production. Agriculture Research,
1997. 28: p. 735-752.
[23] T. T. L. Vo, Seafood Supply Chain Quality Management: The Shrimp
Supply Chain Quality Improvement Perspective of Seafood Companies
in the Mekong Delta, Vietnam, in Faculty of Economics, University of
Groningen. 2006: Groningen, the Netherlands.
[24] K. Hulebak and W. Schlosser, Hazard Analysis and Critical Control
Point (HACCP) History and Conceptual Review. Risk Analysis, 2002.
22 (3).
[25] Joint Technical Committee OB-007, Australian/New Zealand Standard:
Risk Management (AS/NZS 4360: 2004). 2004, Standards Australia
International Ltd, GPO Box 5420, Sydney, NSW 2001 and Standards
New Zealand, Private Bag 2439, Wellington 6020.
[26] Joint Technical Committee OB-007, Risk Management Guidelines,
Companion to AS/NZS 4360:2004, S.A.S.N. Zealand, Editor. 2004,
Standards Australia International Ltd, GPO Box 5420, Sydney, NSW
2001 and Standards New Zealand, Private Bag 2439, Wellington 6020.
[27] G. F. Patrick and W. N. Musser, Sources of and responses to risk: factor
analyses of large-scale US corn-belt farmers, in Risk Management
Strategies in Agriculture; State of the Art and Future Perspectives,
R.B.M. Huirne, J.B. Hardaker, and A.A. Dijkhuizen, Editors. 1997,
Mansholt Studies, Wageninge Agricultural University: Wageningen. p.
45-53.
[28] W. G. Boggess, K. A. Anaman, and G. D. Hanson, Importance, Causes,
and Management Responses to farm Risks: Evidence from Florida and
Alabama. Southern Journal of Agricultural Economics, 1985(December,
1985): p. 105-116.
[29] P. N. Wilson and T. R. Luginsland, Risk Perceptions and Management
Responses of Arizona Dairy Producers. Journal of Dairy Science, 1988.
71(2, 1988): p. 545-551.
[1] Make catfish farming environmental friendly (Vietnamese),
http://kinhtenongthon.com.vn/Story/kinhtethitruong/
2007/11/7593.html. 2007.
[2] MOFI, Annual Report of Vietnam. 2005, Ministry of Fisheries, Vietnam.
[3] N. Pham. Catfish Export: A Big Win (Vietnamese), Rural Economic
Times, webpage: http://kinhtenongthon.com.vn. 2008.
[4] MOFA. Making Tra fish becomes major export industry (Vietnamese),
http://www.mofa.gov.vn. 2009.
[5] V. B. Tu, Before and After the Catfish War: Market Analysis. CAS
Discussion paper, 2006(50) (unpublished).
[6] AGRO. Catfish Rearing: No Contract, No Rearing (Vietnamese),
http://www.agro.gov.vn/news/newsdetail.asp?targetID=12611. 2009.
[7] J. Harwood, R. Heifner, K. Coble, J. Perry, and A. Somwaru, Managing
Risk in Farming: Concepts, Research, and Analysis. 1999, Economics
Research Service, U.S. Department of Agriculture: Washington D.C.
[8] G. R. Patrick, P. N. Wilson, P. J. Barry, W. G. Boggess, and D. L.
Young, Risk Perceptions and Management Responses: Producer-
Generated Hypotheses for Risk Modeling. Southern Journal of
Agricultural Economics, 1985(December, 1985): p. 231-238.
[9] M. P. M. Meuwissen, R. B. M. Huirne, and J. B. Hardaker, Risk and
Risk Management: an empirical analysis of Dutch livestock farmers.
Livestock Production Science, 2001(69 (2001)): p. 43-53.
[10] D. C. Hall, T. O. Knight, K. H. Coble, A. E. Baquet, and G. F. Patrick,
Analysis of Beef Producers' Risk Management Perception and Desire for
Further Risk Management Education. Review of Agricultural
Economics. 25(2): p. 430-448.
[11] O. Flaten, G. Lien, M. Koesling, P. S. Valle, and M. Ebbesvik,
Comparing risk perception and risk management in organic and
conventional dairy farming: empirical results from Norway. Livestock
Production Science, 2005 (95 (2005) ): p. 11-25.
[12] A. Giuffrida, Application of Risk Management to the Production Chain
of Intensively Reared Fish. Veterinary Research Communication 2003.
27 (Suppl. 1): p. 491-496.
[13] X. S. Le, Issues Related to Sustainable Farming of Catfish (Pangasius
spp.) in Vietnam, in Species and System Selection for Sustainable
Aquaculture, P. Leung, Lee, C. S., O'Bryen, P. J., Editor. 2003,
Blackwell Publishing
[14] R. G. Doupe, J. Alder, and A. J. Lymbery, Environmental and product
quality in finfish aquaculture development: an example from inland
Western Australia. Agriculture Research, 1999. 30: p. 595-602.
[15] C. E. Boyd, Effluents from catfish bonds during fish harvest. Journal of
Environmental Quality, 1978. 7: p. 59-62.
[16] J. E. Ellis, D. L. Tackett, and R. R. Carter, Discharge of solids from fish
ponds. Prog. Fish Culture, 1978. 40: p. 165-166.
[17] W. D. Hollerman and C. E. Boyd, Effects of annual draining on water
quality and production of channel catfish in ponds. Aquaculture, 1985.
46: p. 45-54.
[18] C. K. Lin and Y. Yi., Minimizing environmental impacts of freshwater
aquaculture and reuse of pond effluents and mud. Aquaculture, 2003.
226: p. 57-68.
[19] D. L. Stanley, The economics of the adoption of BMPs: the case of
marine-culture water management. Ecological Economics, 2000. 35: p.
145-155.
[20] J. Hopkins, P. Sandifer, and C. Browdy, A review of water management
regimes which abate the environmental impacts of shrimp farming, in
Swimming through Troubled Water: Proceedings of the Special Session
on Shrimp Farming. Abstracts of the Meeting of the World Aquaculture
Society. C. Browdy and J. Hopkins, Editors. 1995, WAS, Baton Rouge,
LA: Sandiego, CA February 1-4.
[21] F. Dieberg and W. Kiattisimkul, Issues, impacts and implications on
shrimp aquaculture in Thailand. Environmental Management, 1996(20):
p. 649-666.
[22] A. Reilly and F. Kaferstein, Food safety hazard and the application of
principles of the hazard analysis and critical control point (HACCP)
system for their control in aquaculture production. Agriculture Research,
1997. 28: p. 735-752.
[23] T. T. L. Vo, Seafood Supply Chain Quality Management: The Shrimp
Supply Chain Quality Improvement Perspective of Seafood Companies
in the Mekong Delta, Vietnam, in Faculty of Economics, University of
Groningen. 2006: Groningen, the Netherlands.
[24] K. Hulebak and W. Schlosser, Hazard Analysis and Critical Control
Point (HACCP) History and Conceptual Review. Risk Analysis, 2002.
22 (3).
[25] Joint Technical Committee OB-007, Australian/New Zealand Standard:
Risk Management (AS/NZS 4360: 2004). 2004, Standards Australia
International Ltd, GPO Box 5420, Sydney, NSW 2001 and Standards
New Zealand, Private Bag 2439, Wellington 6020.
[26] Joint Technical Committee OB-007, Risk Management Guidelines,
Companion to AS/NZS 4360:2004, S.A.S.N. Zealand, Editor. 2004,
Standards Australia International Ltd, GPO Box 5420, Sydney, NSW
2001 and Standards New Zealand, Private Bag 2439, Wellington 6020.
[27] G. F. Patrick and W. N. Musser, Sources of and responses to risk: factor
analyses of large-scale US corn-belt farmers, in Risk Management
Strategies in Agriculture; State of the Art and Future Perspectives,
R.B.M. Huirne, J.B. Hardaker, and A.A. Dijkhuizen, Editors. 1997,
Mansholt Studies, Wageninge Agricultural University: Wageningen. p.
45-53.
[28] W. G. Boggess, K. A. Anaman, and G. D. Hanson, Importance, Causes,
and Management Responses to farm Risks: Evidence from Florida and
Alabama. Southern Journal of Agricultural Economics, 1985(December,
1985): p. 105-116.
[29] P. N. Wilson and T. R. Luginsland, Risk Perceptions and Management
Responses of Arizona Dairy Producers. Journal of Dairy Science, 1988.
71(2, 1988): p. 545-551.
@article{"International Journal of Business, Human and Social Sciences:64503", author = "Tru C. Le and France Cheong", title = "Measuring Risk Levels and Efficacy of Risk Management Strategies in Vietnamese Catfish Farming", abstract = "Although the Vietnamese catfish farming has grown
at very high rates in recent years, the industry has also faced many
problems affecting its sustainability. This paper studies the
perceptions of catfish farmers regarding risk and risk management
strategies in their production activities. Specifically, the study aims
to measure the consequences, likelihoods, and levels of risks as well
as the efficacy of risk management in Vietnamese catfish farming.
Data for the study were collected through a sample of 261 catfish
farmers in the Mekong Delta, Vietnam using a questionnaire survey
in 2008. Results show that, in general, price and production risks
were perceived as the most important risks. Farm management and
technical measures were perceived more effective than other kinds of
risk management strategies in risk reduction. Although price risks
were rated as important risks, price risk management strategies were
not perceived as important measures for risk mitigation. The results
of the study are discussed to provide implications for various
industry stakeholders, including policy makers, processors, advisors,
and developers of new risk management strategies.", keywords = "Aquaculture, catfish farming, sources of risk, riskmanagement, risk strategies, risk mitigation.", volume = "3", number = "9", pages = "1809-12", }
