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 |