Programme

PhD

Term

III

Academic Year

2021-22

Course title

Agricultural Risks and Risk Management Strategies#

Area

Centre for Management in Agriculture

Credits

0.75

Instructor(s)

Prof. Vijay Paul Sharma

Course Description & Objectives

Objectives: Agricultural producers face a wide range of natural, market and regulatory risks that expose them to potentially substantial losses. Food and agribusiness companies also find sourcing of raw materials/commodities increasingly challenging business. Several risk management tools/strategies can be used to mitigate, transfer or cope with these risks. Governments play an important role in managing agricultural risks through direct intervention as well as creating enabling policy environment for developing market-based risk management tools and instruments. This course focuses on understanding agricultural risks and their sources, and risk management policies and strategies using combinations of on-farm practices, price support policy, derivatives and insurance products. The objectives of the course are to (i) develop an understanding in agricultural risk analysis, management and decision-making, (ii) equip students with various risk management strategies/ techniques including on-farm management, insurance, forward contracts, price policy, subsidies, trade policy, futures and options markets, and (iii) develop a risk management plan for agricultural producers and agribusiness firms.