Willingness to pay for white leg shrimp insurance

MINISTRY OF EDUCATION AND TRAINING NHA TRANG UNIVERSITY PHAM KY ANH WILLINGNESS TO PAY FOR WHITE LEG SHRIMP INSURANCE: THE CASE OF SHRIMP FARMERS IN QUANG NINH PROVINCE MASTER THESIS KHANH HOA - 2019 MINISTRY OF EDUCATION AND TRAINING NHA TRANG UNIVERSITY PHAM KY ANH WILLINGNESS TO PAY FOR WHITE LEG SHRIMP INSURANCE: THE CASE OF SHRIMP FARMERS IN QUANG NINH PROVINCE MASTER THESIS Major: Marine Ecosystem Management & CC Topic allocation Decision: 1035/QĐ-ĐHNT date 24th October 2017 Code: 60620115 Decision on establishing the 746/QĐ-ĐHNT dated 5th July 2019 Committee: 4th August 2019 Defense date: Supervisors: Prof Curtis M Jolly Assoc Prof Nguyễn Thị Kim Anh Chairman: Assoc Prof Lê Kim Long Faculty of Graduate Studies: KHANH HOA – 2019 UNDERTAKING I undertake that the thesis entitled: “Willingness to pay for white leg shrimp insurance: The case of shrimp farmers in Tien Yen, Quang Ninh province” is my own work The work has not been presented elsewhere for assessment until the time this thesis is submitted Khanh Hoa, May 2019 Author Pham Ky Anh i ACKNOWLEDGEMENT I would like to express my heartfelt gratitude to Professor Curtis M Jolly (Auburn University) and Assoc Prof Kim Anh Thi Nguyen (Nha Trang University) for their devotion and assistance in directing my thesis Their comments were extremely valuable in the completion of my studies The supervision was essential in confidence building and enabled me to complete this study in a timely manner I am fortunate to have them as my supervisors I would also like to thank the People‟s Committee of Hai Lang commune, Tien Yen district, Quang Ninh province for helping me to conduct the investigation and in data collection Thanks to all the numerous authors whose studies that I have consulted and reviewed I would like to thank my parents, wife and children, as well as my friends and colleagues who provided relentless support throughout this course of studies Without their assistance, I would not have made it Finally, I wish to express my sincere appreciation to NORHED program, University of Tromso and Nha Trang University for giving me the opportunity to study Marine Ecosystem Management and Climate Change May God bless them all Nha Trang, May 2019 Author Pham Ky Anh ii TABLE OF CONTENTS UNDERTAKING i ACKNOWLEDGEMENT ii TABLE OF CONTENTS iii LIST OF TABLES vi LIST OF FIGURE ………………………………………………………………………vii ABTRACT…………………………………………………………………………… viii CHAPTER 1: INTRODUCTION 1.1 Identify research problems 1.2 Objectives of the study .3 1.2.1 Overall objectives 1.2.2 Specific objective .4 1.3 Research question .4 1.4 Scope of the study 1.5 The implications of the research results .5 1.5.1 Scientific 1.5.2 Field 1.6 Structure of the thesis CHAPTER 2: THEORY AND MATERIALS 2.1 Concepts 2.1.1 What is agricultural insurance? 2.1.2 Household 2.1.3 Risks .6 2.1.4 Fisheries insurance 2.1.4.1 Regulated insurances 2.1.4.2 Scope of insurance 2.1.4.3 Premium insurance iii 2.1.4.4 Contents related to fisheries insurance (shrimp/fish) 10 2.2 Theoretical Framework 12 2.3 Overview of research on factors affecting decision to participate in Agricultural Insurance 13 2.3.1 Foreign studies 13 2.3.2 Domestic studies 14 CHAPTER 3: METHODOLOGY 16 3.1 Research process 16 3.2 Research area 18 3.2.1 Land resources 19 3.2.2 Weather and Climate 20 3.2.3 Socio-economic characteristics 22 3.2.3.1 Economic development situation 22 3.2.3.2 Population and labor .23 3.2.4 Current status of application of science and technology into aquaculture .23 3.2.5 Labor and labor qualification in aquaculture 25 3.2.6 Status of epidemics in saline and brackish aquaculture 25 3.3 Household interview .26 3.4 Method 26 3.4.1 Risk identification 26 3.4.2 Assessment of willingness to pay 26 3.4.3 Factors influencing willingness to participate 27 3.4.4 Empirical model and data analysis 27 3.4.5 Descriptive statistics method .29 3.4.6 Data collection 29 3.4.6.1 Primary data collection 29 3.4.6.2 Secondary data collection .29 3.4.6.3 Data analysis 30 CHAPTER 4: RESULT AND DISCUSSION 31 4.1 Analysis of sample results 31 iv 4.1.1 Description of characteristics of shrimp farmers 31 4.1.2 The situation of raising white shrimp 33 4.1.3 Information about techniques for white leg shrimp farming 34 4.1.4 White leg shrimp production activities 35 4.2 Economic efficiency 35 4.3 Disease risk in farming white leg shrimp 36 4.4 Natural disaster 38 4.5 Awareness of agricultural insurance on shrimp farming .38 4.6 Willingness to pay agricultural insurance for white leg shrimp farming 39 4.7 Factors affecting decisions on agricultural insurance participation 40 4.7.1 Describe the variables in the model 40 4.7.2 Analysis of factors affecting the decision to participate in insurance for white leg shrimp .41 CHAPTER 5: CONCLUSION AND SUGGESTION 43 5.1 Conclusion 43 5.2 Suggestion 43 REFERENCE 45 APPENDIX v LIST OF TABLES Table 2.1 Premium rates of insurance Table 2.2 Formula of fee insurance .9 Table 2.3 The damage ratio of insurance for White Leg Shrimp 11 Table 2.4 The damage ratio of insurance for Tiger Shrimp 11 Table 2.5 The damage ratio of insurance for Tra (Catfish) fish 12 Table 3.1 Total socio-economic production value in 2018 Hai Lang commune 22 Table 3.2 Summary of industrial shrimp farmers in Hai Lang commune 24 Table 4.1 Socio-economic characteristics of the respondents on WLS farms in Hai Lang commune, Tien Yen district, Quang Ninh province 31 Table 4.2 Characteristics of age, demographic, labor of shrimp farmers in Tien Yen district, Quang Ninh province, 2018 33 Table 4.3 Area, experience of raising white leg shrimp in Tien Yen district, Quang Ninh province, 2018 .33 Table 4.5 Number of crop, cultural day, stocking density, and FCR 35 Table 4.6 Average production cost of ha/shrimp crop of shrimp farmers in Tien Yen district, Quang Ninh province, 2018 35 Table 4.7 The frequency of epidemics for white leg shrimp for five years 36 Table 4.8 Awareness of agricultural insurance on shrimp farming 38 Table 4.9 Farmers' judgment on total cost, average revenue, damage rate, and insurance payment rate calculated on total cost, premium rate calculated on total cost………… 40 Table 4.10 Descriptive statistics of qualitative variables in econometric models 40 Table 4.11 Descriptive statistics of quantitative variables in econometric models 41 Table 4.12 Logit model results "Analysis of factors affecting the decision to participate in shrimp insurance" 41 vi LIST OF FIGURE Figure 3.1 Diagram of research process……………………………………………… 16 Figure 3.2 Tien Yen district and Quang Ninh province……………………………… 18 vii ABTRACT On March 1, 2011, the Vietnam Government issued Decision No 315/QD-TTg on the pilot implementation of agricultural insurance in the period of 2011-2013 The pilot agricultural insurance program was implemented in twenty provinces, cities across the country with three types of products, rice insurance (seven provinces), pet insurance (nine provinces) and aquatic insurance (five provinces) with the aim of reducing risks to stabilize income in general and shrimp farmers in particular (Decision No 315/QD-TTg of Vietnam Government) The implementation of the pilot agricultural insurance was necessary at this period to contribute to conditions for people to access insurance on the principle of voluntariness, ensuring social security, and stabilizing capital in pine production through compensation of losses suffered by rural people (Hoang and Khoi, 2015) However, Quang Ninh is a province that has not been able to pilot fisheries insurance The aim of this research is to evaluate aquaculture farmers‟ risks and measures adopted to manage these risks The evaluation of farmers‟ willingness to pay and the factors influencing their decision to purchase insurance will enable policy makers to propose suitable institutional mechanisms to implement an insurance program for shrimp farmers The use of insurance program as a mitigation measure against climate change will be evaluated The overall objective of this study is to assess the willingness to participate for farming white leg shrimp insurance by farmers in Hai Lang commune, Tien Yen district, Quang Ninh province The research study will help evaluate the willingness to participate in insurance and the factors affecting the willingness of households involved in farming white leg shrimp in Hai Lang commune, Tien Yen district, Quang Ninh province The results will help policy makers to propose steps toward the successful implementation of an agricultural insurance program to help limit risks in white leg shrimp farming in Quang Ninh province In this study, the contingent valuation method (CVM) will be used The data collected by 120 white leg shrimp farmers in Hai Lang commune, Tien Yen district, Quang Ninh province In particular, the study uses binary logit model to evaluate the factors affecting the decision to participate in fisheries insurance for white leg shrimp farmers, processing data by Excel and SPSS viii 30 Nguyen, T.A K., Pongthanapanich, T Aquaculture insurance in Vietnam: Experience from a pilot programme; FAO Fisheries and Aquaculture circular (2016) No 1133 31 Padi., A., Awuah-Addor., J., Nunfam, V.F., 2015 An Econometric Model of Factors influencing Households‟ willingness to pay for improved solid waste management service within the Patrick, F.G 1988 Mallee wheat farmers‟ demand for crop and rainfall insurance Australian Journal of Agricultural Economics 32(1): 37–49 32 Pearce, D W., & Turner R K., (1990) “Economics of natural resource and the Environment”, London: Harvester, Wheatsheaf 1990 378 pp 33 Zapata SD, Carpio CE (2014) “The theoretical structure of producer willingness to pay estimates.” Agricultural Economics, 45(5):613-623 48 APPENDIX Appendix 1: Logit model results Logistic Regression Case Processing Summary Unweighted Cases a Selected Cases N Included in Analysis Missing Cases Total Percent 120 88.2 16 11.8 136 100.0 0 136 100.0 Unselected Cases Total a If weight is in effect, see classification table for the total number of cases Dependent Variable Encoding Original Value Internal Value 0 1 Block 0: Beginning Block Classification Table a,b Predicted YBAOHIEM Observed Step 0 YBAOHIEM Percentage Correct 0 45 75 100.0 Overall Percentage 62.5 a Constant is included in the model b The cut value is 500 Variables in the Equation B Step Constant S.E .511 189 Wald df 7.339 Variables not in the Equation Score Step Variables TUOI df Sig .111 739 HOCVAN 45.819 000 Years 47.694 000 182 670 35.760 000 TAPHUAN DTAO Sig .007 Exp(B) 1.667 TTBH Overall Statistics 5.002 025 71.517 000 Block 1: Method = Enter Omnibus Tests of Model Coefficients Chi-square Step df Sig Step 100.614 000 Block 100.614 000 Model 100.614 000 Model Summary Step Cox & Snell R Nagelkerke R Square Square -2 Log likelihood a 58.161 568 774 a Estimation terminated at iteration number because parameter estimates changed by less than 001 Classification Table a Predicted YBAOHIEM Observed Step YBAOHIEM Percentage Correct 40 88.9 70 93.3 Overall Percentage 91.7 a The cut value is 500 Variables in the Equation B Step a TUOI S.E Wald df Sig Exp(B) -.022 045 240 624 978 HOCVAN 586 156 14.184 000 1.797 Years 571 160 12.789 000 1.770 -.162 756 046 830 850 DTAO 11.234 3.408 10.866 001 756 TTBH -.126 814 024 877 881 -13.610 3.412 15.914 000 000 TAPHUAN Constant a Variable(s) entered on step 1: TUOI, HOCVAN, Years, TAPHUAN, DTAO, TTBH Here, TUOI – AGE HOCVAN – EDUCATION Years – EXPERIENCE TAPHUAN – TRAINING DTAO – AREA TTBH – INFO_INSURANCE Appendix 2: QUESTIONNAIRE (To survey householder’s agricultural inssurance on white-leg shrimp) Dear Sir/Madam, we are…… come from……… We are conducting a studywhich aims to provide key information and recommendations to support policy decision on the establishment of aquaculture insurance on white-leg shrimp (WLS) The information that we will collect is for planning purposes only and there are no personal consequences on your participation The information that you provide will be confidential Thank you very much for your cooperation I GENERAL INFORMATION: Name of householder: …………………………………………Householder code …………… Address:…………………Commune…………………District………………….Provi nce………………… Telephone: Name of interviewer……………………… ……………Date of interview: … + Relationship to householder:…………………………………………………………………… II INFORMATION ON HOUSEHOLDER: Age of householder: Gender:MaleFemale Marrital status: Single Married Divorced Educational level of the householder: Primary school Secondary school High-school Technical College University Other: ……… or: Number of years of schooling: ………years Members in the household: 9.1 Total individuals: ……… persons, in which: Male…… person(s); Female:…… person(s); 9.2 Number of individuals in the household who works:: ………… person(s);Number of dependents belonging to household:………… person(s); III INCOME OF HOUSEHOLD (2018): 10 Total income from all sources in 2018:……………………………………… million Dong / year 11 Sources of income: 11.1 Aquaculture: …………………………………………… million Dong / year Of which, percentage (%) of income from WLS farming: ………… million Dong / year 11.2 Agriculture (Cultivation, animal farming): ………………………… million Dong / year 11.3 Other (specify):…………………………………………………… million Dong / year Note: providing percentage (%) of income sources IV WHITE-LEG SHRIMP PRODUCTION ACTIVITIES IN THE HOUSEHOLD (2018): 12 Type of shrimp: Of which: White-leg shrimp: ………… (%); Black-tiger shrimp: ……… (%); Others: … (%) 13 Number of years of WLS farming in the household: …………………….years 14 Have you ever participated in technical training programs for WLS? Yes No 15 Pond ownership type: 100% ownership Co-ownership Number of ponds: …………… Pond rent …………………… ……………… 16 Type of farming: Intensive, starting from year: ……………, No of ponds ………; Area (m2) ……… Semi-intensive, starting from year ………; No of ponds ………; Area (m2) ……… Improved extensive farming, starting from year…… No of ponds ……; Area (m2) ……… Other, starting from year, No of ponds ………; Area (m2) ……… 17 Type of pond: Earth pondSand pondOthers (specify): ………………………… 18 Pond bottom: SandSludgeOthers (specify): ………………………… 19 Total number of WLS grow-out pond: …… ,Total area (ha): ……………Average area of grow-out pond: ………………(ha/1 pond) 19.1 Area of the largest grow-out pond: ……… ………………(ha/pond) 19.2 Area of the smallest grow-out pond: ……… ………………(ha/pond) 20 Average number of WLS crops per year: ……………………………………… ( crop/year) 21 Average number of WLS days per crop: ………………………………………………( days/crop) 22 Average stocking density : ………………………………………………… ( piece /m2) 23 Average feed consumption coefficient (converted): ……………………………………………… 24 Average inputs and outputs for a WLS crop in 2018 for hecta Quantity Unit Value (Revenue/cost) Unit price Million 24.1 Harvest Tone/ha/crop dong/ha/crop 24.2 Variable inputs Million - Seed Piece/ha/ crop dong/ha/crop Million - Feed Kg/ha/ crop dong/ha/crop Million - Chemical - Energy + Electricity + Oil Kg/ha/ crop Kw/ha/ crop Lit/ha/ crop Labour hour/ha/ - Labor crop dong/ha/crop Million dong/ha/crop Million dong/ha/crop Million - Harvest Hour/ha/ crop dong/ha/crop Million - Others dong/ha/crop Million Total Variable inputs /ha/crop dong/ha/crop 24.3 Fixed inputs Million - Depreciation dong/ha/crop Million - Renting pond cost (water surface) dong/ha/crop Million dong/ha/crop - Pond improvement cost Million dong/ha/crop - Others Million Total fixed inputs /ha/crop dong/ha/crop 25 Revenue from WLS in the last crop: This crop period: from month 25.1 Total month …… year…… income from all WLS ponds:: …………………………………………Million dong 25.2 Average total income of one WLS pond: ………………………………………Million dong 26 Are you using funds for WLS farming from:  100% owned capital (by savings)  100% borrowed capitalowned capital ……% andborrowed capital ……% 27 If you have to borrow, from which of the following sources you borrow?: Relative/friendBankGovernmentPrivate creditors Other: …………… 28 What is the total amount you borrow for WLS culture in 2018?: …………………Million dongs V PERILS IN WLS FARMING: 29 What are the perils of WLS culture in the household?  Desease  Natural disaster  Other: ………………… 30 If it is desease, what kind of desease does the WLS infect in the most recent years: Rare Almost Annual Always NO occurrence annual occurrence occurrence occurrence occurrence White spot disease      Yellow head disease      Taura syndrome      Pathogenesis of acute hepatopancreatic necrosis disease      Infectious Hypodermal      and Hematopoietic Necrosis Runt Syndrome Deformity      White feces syndrome      Infectious myonecrosis      Other: …………………      31 The impact of disease on household‟s income in the most recent years: Rating level NO low Average High Too high      32 In the most recent crop, What time is WLS infected?: ……………………… + WLS grow-out pond areais infected: ………… (m2); Shrimp size when infected: ……… piece/kg; + Number of day-old shrimp when infected: ………………… (days) + The production decline ratio caused by disease: ……………….(%) 33 What are your treatment measures in the event of disease? (circle your answer): A) Early harvest and doing nothing; B) Early harvest and investingyour ownmoney to improve your pond for the next crop; C) Early harvest and borrowing money to re-invest; D) Self studying and self- buying medicals for shrimp; E) Hiring technical experts to treat for shrimp; G) Others F) Using insurance contracts; (specify): …………………………………………………………………………………… …… …………………………………………………………………………………………… ……………… 34 If it is natural disaster, what does the frequency of natural disasters affect on WLS farming in the most recent years: Rare NO occurrence occurrence Almost Annual Always annual occurrence occurrence occurrence Drought      Flood      Thunderstorm      Tornado      Wave      Soil salinity      35 The impact of natural disaster on household‟s income in the most recent years: Rating level NO low Average High Too high      36 In the most recent crop, when is your shrimp damaged by natural disaster?: ……………………… + WLS grow-out pond area is damaged: ………… (m2); Shrimp size when infected: ……… piece/kg; + Number of day-old shrimp when damaged: ………………… (days) + Production decline ratio caused by natural disaster: ……………….(%) 37 What are your adaptation methods in the event of natural disaster? (circle your answer) A) Early harvest and doing nothing; B) Early harvest and investingyour ownmoney to improve your pond for next crop; C) Early harvesting and borrowing money to re-invest; D) Reinforcing grow-out pond and using materials that can response to natural disaster E) Using insurance contracts; F)Other (specify): ………………………………… …………………………………………………………………………………………… ……………………… 38 Do you apply for one of the following criteria?  VIETGAP  GLOBALGAP Other (specify) ………………………………… VI AWARENESS ON AGRICULTURAL INSURANCE FOR SHRIMP 39 Do you know the agricultural insurance program for shrimp culture?  Yes  NO  40 Do you receive information onagricultural insurance for shrimp? Yes  NO  Yes 41 Have you ever joined an agricultural insurance program?  NO 42 If not, please specify reasons      No benefits of buying insurance      Low compensation rate      Low insurance value      High cost insurance      Requiring a too large scale           Complicated registration procedures      Complicated compensation procedures      Other: …………………………………………      Not joining understanding The technical complicated because of conditions not too Remark: 1–Stronglydisagree; 2– Disagree; 3– Neutral; 4– Agree; 5– Stronglyagree 43 Please specify reasons why you don‟t want to join insurance programs? ………………………………………………………………………………………… ……………………… ………………………………………………………………………………………… ……………………… ………………………………………………………………………………………… ……………………… VII WILLINGNESS TO PAY AGRICULTURAL INSURANCE FOR WLS: 44 According to your experience, which of following period is your WLS often infected? (Select one ONLY): under 40 day-old under 60 day-old under 80 day-old under 100 day-old above 100 day-old 45 If you decide to buy insurance for WLS, which of following period you prefer to buy insurance for shrimp? (Select one ONLY)  under 40 day-old  under 60 day-old  under 80 day-old  under 100 day-old  above 100 day-old 46 Assuming that you have one hecta of WLS under 40 culture days which is completely lost or damaged at a certain percentage (%), according to your experience, what are the total costs and revenue per hectare if you haverst shrimp (before 40 culture days)? Please circle % compensation rate you wish to receive based on your total costs and insurrane fee (%) you are willing to pay Assuming that your shrimp is 40 day-old, could you please let us know your total culture costs and revenue in this period, and estimate damage ratio (%), compensation rate (%) you wish to receive, and insurance fee (%) you are willing to pay Average total costs or revenue per hectare for Damage, compensation rate and premium Item under 40 day-old rate shrimp Total costs/ha Milliion dongs Total revenue/ha Milliion dongs Damage ratio (%) 90 80 70 60 50 >50 Compensation rate/total cost (%) 90 80 70 60 50 >50 Premium rate/total cost (%) 25 20 15 10 >5 47 Assuming that you have one hecta of WLS under 60 culture days which is completely lost or damaged at a certain percentage (%), according to your experience, what are the total costs and revenue per hectare if you haverst shrimp (before 60 culture days)? Please circle % compensation rate you wish to receive based on your total costs and insurrane fee (%) you are willing to pay Assuming that your shrimp is 60 day-old, could you please let us know your total culture costs and revenue in this period, and estimate damage ratio (%), compensation rate (%) you wish to receive, and insurance fee (%) you are willing to pay Average total costs or Damage, compensation rate and premium Item revenue per hectare for rate under 60 day-old shrimp Milliion dongs Milliion dongs Total costs/ha Total revenue/ha Damage ratio (%) 90 80 Compensation rate/total cost (%) 90 80 Premium rate/total cost (%) 25 20 48 Assuming that you have one hecta of WLS under 80 70 60 50 >50 70 60 50 >50 15 10 >5 culture days which is completely lost or damaged at a certain percentage (%), according to your experience, what are the total costs and revenue per hectare if you haverst shrimp (before 80 culture days)? Please circle % compensation rate you wish to receive based on your total costs and insurrane fee (%) you are willing to pay Assuming that your shrimp is 80 day-old, could you please let us know your total culture costs and revenue in this period, and estimate damage ratio (%), compensation rate (%) you wish to receive, and insurance fee (%) you are willing to pay? Average total costs or revenue per hectare for Damage, compensation rate and premium Item under 80 day-old rate shrimp Total costs/ha Milliion dongs Total revenue/ha Milliion dongs Damage ratio (%) 90 80 70 60 50 >50 Compensation rate/total cost (%) 90 80 70 60 50 >50 Premium rate/total cost (%) 25 20 15 10 >5 49 Assuming that you have one hecta of WLS under 100 culture days which is completely lost or damaged at a certain percentage (%), according to your experience, what are the total costs and revenue per hectare if you haverst shrimp (before 100 culture days)? Please circle % compensation rate you wish to receive based on your total costs and insurrane fee (%) you are willing to pay Assuming that your shrimp is 100 day-old, could you please let us know your total culture costs and revenue in this period, and estimate damage ratio (%), compensation rate (%) you wish to receive, and insurance fee (%) you are willing to pay Average total costs or revenue per hectare for Damage, compensation rate and premium Item under 100 day-old rate shrimp Total costs/ha Milliion dongs Total revenue/ha Milliion dongs Damage ratio (%) 90 80 70 60 50 >50 Compensation rate/total cost (%) 90 80 70 60 50 >50 Premium rate/total cost (%) 25 20 15 10 >5 50 Assuming that you have one hecta of WLS above 100 culture days which is completely lost or damaged at a certain percentage (%), according to your experience, what are the total costs and revenue per hectare if you haverst shrimp (after 100 culture days)? Please circle % compensation rate you wish to receive based on your total costs and insurrane fee (%) you are willing to pay Assuming that your shrimp is more than 100 day-old, could you please let us know your total culture costs and revenue in this period, and estimate damage ratio (%), compensation rate (%) you wish to receive, and insurance fee (%) you are willing to pay Average total costs or revenue per hectare for Damage, compensation rate and premium Item after 100 day-old rate shrimp Total costs/ha Milliion dongs Total revenue/ha Milliion dongs Damage ratio (%) 90 80 70 60 50 >50 Compensation rate/total cost (%) 90 80 70 60 50 >50 Premium rate/total cost (%) 25 20 15 10 >5 51 Suppose an insurance company requires that you need to comply with some (pre-) conditions to be able to buy WLS insurance and to receive claim payment.And there will be criteria to base their decision on providing insurance services, calculation of premium, sum insured and indemnity you will receive in the event of a claim.What conditions/criteria below that you think you can comply with or you can agree to invest/provide? Check  the conditions that you can agree to comply/provide to Already Not yet No available available insurer Have reservoir/pond for water stocking and treatment before use Have treatment pond for treatment of effluent/waste before discharge Have place for sludge deposit and treat before discharge Buy PL only from certified hatcheries Follow the stocking period announced by the authority Provide detailed record on shrimp stock and stocking (date stocked, no of PL, hatchery, stock assessment during culture period) Provide detailed record on feed used, feeding, FCR Provide detailed record on drug and chemical used Provide detailed record on disease infection and control measures 10 Provide detailed record on water parameters and management measures 11 Provide detailed record on production cost                       12 13 14 15 16 17 18 19 20 21 22 Provide detailed record on harvest and revenue Have death/sick shrimp samples checked by a laboratory Invest on a spare/secured power supply system Invest on good farm sanitation (provision of clean toilet, garbage bin, hand washing sink, soap, storage room) Install CCTV Build fence and gate Register your farm with authority Obtain farm certification (If yes, specify…………………………………) Access to formal loan/credit Become a member of shrimp cooperative/association/or other formal farmers‟ group Participate actively once a month in local meeting or training that will improve knowledge and management capacity in shrimp farming o0o -Thank you for your cooperation                       ... willingness to participate in agricultural insurance (shrimp insurance) at any fee Therefore, it is for this reason that the topic "Willingness to pay for white leg shrimp insurance: The case of shrimp. .. in white leg shrimp farming; the sixth section is about awareness on agricultural insurance for shrimp; and the last section is about willingness to pay agricultural insurance for white leg shrimp. .. insurance for white leg shrimp (62.5%), 45 households are not ready to participate in insurance for white leg shrimp (37.5%) The above farmers never heard of agricultural insurance on white leg