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Table 4 Cocoa farmers’ willingness to insure and the amount to pay for crop insurance

From: A double-hurdle model estimation of cocoa farmers’ willingness to pay for crop insurance in Ghana

Variable Description Percentage (%)
Willing to insure cocoa farms Yes 85.4
No 14.6
Percentage of total production cost/acre/annum farmers are willing to pay as premium 10 67.80
20 17.56
30 7.80
40 6.83
Minimum premium willing to pay/acre/annum GH¢32.10 67.80
Maximum premium willing to pay/acre/annum GH¢128.40 40
Average amount farmers are willing to pay per acre per annum GH¢ 49.32