Identification of risk factors affecting production of beekeeping farms and development of risk management strategies: A new approach

The aim of this investigation was to determine risk factors affecting production of beekeeping farms in Igdir province of Turkey and to develop strategies in coping with these risks. Research was based on data collected through a questionnaire applied to 85 beekeeping farms registered to Igdir Beekeepers' Union according to exact counting method. Factor analysis was applied to collected data to identify risk factors and risk management strategies. Factor analysis was conducted under principle component extraction method and VARIMAX rotation. A stepwise regression analysis was used to reveal the relationship between each of four strategy factors and eight risk factors. As risks in procuring labor occur, farmers are more likely to adopt modern agricultural techniques and risk management strategies, such as registering to a cooperative, product insurance, contract farming, and cooperating with public bodies. Unfavorable security conditions and lack of proper bookkeeping in farms are more likely to lead to adoption of careful production and investment planning. As enterprise conditions get better or external conditions get worse, protecting the investment through disease-prevention and better marketing through getting more market information becomes important. Thus, thirteen applicable strategies are determined in the study. As a result, the approach developed in this research could be suggested for beekeepers in selecting necessary strategies against possible risk factors defined here for sustainable honey production and more income.