Archives

Kalinangan Refereed Journal

Volume no. 32 | 2024/06
Issue no. 1


Title
Proposed Sustainability Plan Using Financial Risk Management for Pisciculture in Barangay Banyaga, Agoncillo, Batangas
Author
Arabelle M. Alamag, Jelian Paula R. Balliwag, Abegail C. Landicho, Nicole A. Medina
Views: 16 Cited: 0
Downloads: 1
Click here to download
Abstract
Pisciculture, or fish farming, has become an increasingly important industry worldwide, providing a significant source of food and employment for millions of people with over 80 million metric tons of fish produced annually worldwide. The study aimed to provide insights into the importance of financial risk management in the context of tilapia farming, which is a crucial sector for the livelihood of many individuals in Barangay Banyaga. The researchers aimed to provide recommendations to manage the practices in pisciculture, with a focus on tilapia farming in Barangay Banyaga, Agoncillo, Batangas, to identify the various levels of financial risks faced by tilapia farmers and financers and analyze their impact on the financial performance of the farms, to evaluate the potential benefits of implementing the financial risk management on the profitability and sustainability of tilapia farming. Lastly, was to provide a sustainability plan that will help the Tilapia farmers and financiers. The study was conducted using a quantitative approach and a sampling technique of random sampling method for the respondents to have an equal chance to be chosen to participate in the study. It was found out that the level of financial risk does not have a significant relationship with the level of benefits attained and has no significant difference between the level of financial risks and demographic profile. It was also derived that there is no significant difference between the level of benefits attained and demographic profile. Meanwhile, there is a significant relationship between credit risk and using financial risk management to reduce uncertainty and a significant difference in the number of years involved in fish farming to the level of financial risks, and lastly a significant difference between financial support or consultancy of the respondents of pisciculture in Brgy. Banyaga, Agoncillo, Batangas on assessing the level of financial risk.
Keywords
pisciculture, financial risks, financial risk management, sustainability plan, quantitative, Agoncillo, Batangas
References
Agricultural Credit – a natural hedge to inflation – Merricks Capital. (2022, June 24). https://www.merrickscapital.com/agricultural-credit-a-natural-hedge-to-inflation/ 

Ali, R. (2023, July 11). How to Improve Your Business#8217;s Financial Performance. Oracle NetSuite. 

Alobaidy, E. . . A., & Jbara, O. K. (2021). Production Risk Analysis of Fish Farming Projects in Fish Ponds And Floating Cages A Case Study In Diyala Governorate. The Iraqi Journal of Agricultural Science, 52(2), 403–410. https://doi.org/10.36103/ijas.v52i2.1301

Aminu, F., Mohammed, H., Akhigbe-Ahonkhai, C. E., & Samuel, O. B. (2021). Analysis of risk coping strategies among catfish farmers in Ikorodu Division, Lagos State, Nigeria. European of Agriculture and Food Sciences, 3(6), 89–94. https://doi.org/10.24018/ejfood.2021.3.6.427

Andersen, L. B., Grefsrud, E. S., Svåsand, T., & Sandlund, N. (2022). Risk understanding and risk acknowledgement: a new approach to environmental risk assessment in marine aquaculture. Ices Journal of Marine Science, 79(4), 987–996. https://doi.org/10.1093/icesjms/fsac028

Ang, S. M. (2023, December 13). Risk Management: What is it and Why it Matters | SafetyCulture. SafetyCulture. https://safetyculture.com/topics/risk-management/

Arunachalam, M., Chen, C., & Davey, H. (n.d.). A Model For Measuring Financial Sustainability Of Local Authorities: Model Development And Application [University of Waikato, New Zealand]. https://ir.uitm.edu.my/id/eprint/29936/1/29936.pdf.

Bureau of Fisheries and Aquatic Resources. (2022). Philippine Tilapia Industry Roadmap 2022-2025. Department of Agriculture, ISSN: 2945-4395. 

C. (2023, December 5). What is BCP testing? C2. https://continuity2.com/blog/what-is-bcp-testing

Cai, J., Leung, P., Luo, Y. L., Yuan, X., & Yuan, Y. Y. (2018). Improving the performance of tilapia farming under climate variation: Perspective from bioeconomic modeling. https://www.fao.org/3/i8442en/I8442EN.pdf

FAO. (2022). The State of World Fisheries and Aquaculture 2022: Towards Blue Transformation. FAO eBooks. https://doi.org/10.4060/cc0461en

Fred, K. (2023, July 3). Maximizing profit and Minimizing risk: Financial Management Strategies for farms.https://bivatec.com/blog/maximizing-profit-and-minimizing-risk- 

Gleißner, W., Guenther, T. W., & Walkshäusl, C. (2022a). Financial sustainability: measurement and empirical evidence. Journal of Business Economics, 92(3), 467–516. https://doi.org/10.1007/s11573-022-01081-0

Kappel, M. (2023, July 21). Offer credit to Customers | The Pros & Cons of extending credit. Patriot Software. https://www.patriotsoftware.com/blog/accounting/offer-credit-customers-pros-cons/

Luna, M., Llorente, I., & Luna, M. (2023). A conceptual framework for risk management in aquaculture. Marine Policy, 147, 105377. https://doi.org/10.1016/j.marpol.2022.105377

Manlosa, A. O., Hornidge, A., & Schlüter, A. (2021). Institutions and institutional changes: aquatic food production in Central Luzon, Philippines. Regional Environmental Change, 21(4). https://doi.org/10.1007/s10113-021-01853-4

Nanavati, U. (2018, October 25). Managing uncertainties: How to think about and manage business risks. The Economic Times. https://economictimes.indiatimes.com/small-biz/hr-leadership/leadership/. 

Ndlela, M. N. (2018). A stakeholder approach to risk management. In Springer eBooks    53–75 . https://doi.org/10.1007/978-3-319-97256-5_4

 Pa-a, S. (2019, January 31). Taal Lake fish kill due to sulfur upwelling: BFAR. Philippine News Agency. https://www.pna.gov.ph/articles/1060579#:~:text=TALISAY

Rasheduzzaman, M., Prodhan, M. M. H., Palash, M. S., & Khan, M. M. A. (2022). Does fishing venture matter for reducing post-harvest loss? Empirical evidence from Bangladesh. Aquaculture and Fisheries. https://doi.org/10.1016/j.aaf.2022.06.005

Saha, P., Hossain, M. E., Prodhan, M. M. H., Rahman, M. T., Nielsen, M., & Khan, M. M. A. (2022). Profit and loss dynamics of aquaculture farming. Aquaculture, 561, 738619. https://doi.org/10.1016/j.aquaculture.2022.738619

Sookye, L., & Mohamudally-Boolaky, A. (2019a). Effectiveness of Financial Risk Management Framework: An analysis of the Mauritian banking sector. Journal of Financial Risk Management, 08(02), 106–124. https://doi.org/10.4236/jfrm.2019.82008

USDA ERS - Risk in Agriculture. (n.d.). https://www.ers.usda.gov/topics/farm-practices-management/risk-management/risk-in agriculture/#: