Risk Management in Agricultural Holdings in Bulgaria

Abstract

The developing uncertainties, risks and crises related to the natural environment, technology, economic and political environment, as well as globalization, still pose a challenge to addressing risk management in the agricultural sector in Bulgaria. The purpose of the article is to make an analysis of risk management in agricultural holdings and, on this basis, to identify generalized conclusions and suggestions for improving the process. Risk management often depends on the economic activities and internal attitudes of farm managers. The methodological framework of the study includes: 1) Theoretical review of risk management in the agricultural sector, identifying the sources of uncertainty and risk, the ability of farmers to use different risk management strategies, as well as the dependence of risk management on the perceptions of farmers and the measures taken by the government; 2) Methodological framework of the study of risk management in agricultural holdings; 3) Recommendations for improving the risk management process. The analyses in the article present the results of university project NI 16/2018 Integrated approach to risk management in the agricultural sector.