Risks in the agriculture industry

Abstract

The agriculture industry is characterized by a high degree of risk. This has always been the case, but in recent years, there has been a trend toward increasing the danger. Every agricultural organization's strategic management must include the capacity to identify hazards early and effectively manage them. The method and results of a questionnaire study targeted at the presence of risk factors and risk management measures in primary agricultural production businesses in Slovakia are presented in this article. The poll focuses on the risk's unique characteristics. According to the survey's findings, Slovakian farmers consider price risk, output or income risk to be the most significant risk factors, and diversity to be the most essential risk management technique. The most significant positive connections were discovered between the size of the land and the significance of price risk perception, as well as between the number of years in office and the importance of price risk perception. The legal form of company was shown to have a strong positive connection with output or income risk. The risk perception of self-employed farmers was assessed as the most significant factor.