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Farmers' Perceptions of Agricultural Risks in the United States, Brazil, and Argentina

Silvina Cabrini, Joana Colussi, Gary Schnitkey, and Scott Irwin

Summary

This study examines the main sources of agricultural risk as perceived by farmers in three key grain-producing regions: the U.S. Midwest, the Argentine Pampas, and southern Brazil. Climate-related production risks emerged as the primary concern for farmers in all three regions, highlighting the critical role of weather and climate in agricultural production. Through an online survey conducted with 475 farmers from these areas, the study identifies key risk factors, including climate, market fluctuations, and government policies. While climate risks were a shared concern, regional differences in risk perceptions were evident. Argentine farmers expressed heightened concerns about government interventions, such as export taxes, whereas U.S. and Brazilian farmers focused more on market-related risks, such as price volatility and input costs. The study also revealed that the recent geopolitical event—the Russian invasion of Ukraine—likely influenced farmers' concerns about market risks, particularly the prices of grains and fertilizers. These findings underscore the need for tailored risk management strategies that account for regional economic, political, and environmental contexts. The results suggest that policymakers and agricultural organizations should prioritize improving access to climate information, stabilizing agricultural policies, and enhancing market transparency to help farmers better manage risk. The study contributes valuable insights into the nature of agricultural risk and offers a foundation for further research on strategies to mitigate vulnerability in global agricultural systems.

Details

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