KEY RISKS TO LOOK OUT FOR IN THE AGRICULTURE IN 2025

HIGH-PRIORITY RISKS (Potential Impact: High, Likelihood: High)

1. Climate Change Risks: Climate change impacts on crop yields, livestock productivity, and water availability.
– Mitigant: Develop climate-resilient agricultural practices, invest in irrigation systems, and enhance weather forecasting.
2. Security Threats: Security threats from militant groups, kidnappings, and banditry.
– Mitigant: Enhance security measures, engage with government officials, and conduct regular risk assessments.
3. Disease and Pest Outbreaks: Disease and pest outbreaks affecting crops and livestock.
– Mitigant: Develop disease and pest management plans, invest in veterinary services, and enhance biosecurity.
4. Regulatory Uncertainty: Uncertainty surrounding regulatory frameworks, land ownership, and trade policies.
– Mitigant: Engage with government officials and regulatory bodies, conduct thorough risk assessments, and develop contingency plans.

MODERATE-PRIORITY RISKS (Potential Impact: High, Likelihood: High)

1. Water Scarcity: Water scarcity impacting irrigation and livestock production.
– Mitigant: Invest in water harvesting and conservation systems, enhance water efficiency, and develop drought-resistant crops.
2. Soil Degradation: Soil degradation impacting fertility and crop yields.
– Mitigant: Develop sustainable soil management practices, invest in soil conservation, and enhance fertilizer use efficiency.
3. Market Fluctuations: Market fluctuations impacting commodity prices and farmer income.
– Mitigant: Develop market intelligence systems, enhance price risk management, and diversify crops.
4. Technology Adoption Risks: Risks associated with adopting new agricultural technologies.
– Mitigant: Develop technology adoption plans, invest in training and capacity building, and enhance digital infrastructure.

LOW-PRIORITY RISKS (Potential Impact: High, Likelihood: High)

1. Biotechnology Risks: Risks associated with biotechnology adoption, including GMOs and gene editing.
– Mitigant: Develop biotechnology regulatory frameworks, invest in research and development, and enhance public awareness.
2. Agricultural Insurance Risks: Risks associated with agricultural insurance, including premium affordability and payout delays.
– Mitigant: Develop agricultural insurance products, enhance premium subsidies, and improve payout efficiency.

SPECIFIC RISKS (Potential Impact: High, Likelihood: High)

1. Infrastructure Challenges: Inadequate infrastructure, including transportation, storage, and irrigation.
– Mitigant: Invest in infrastructure development, engage with government officials, and develop contingency plans.
2. Economic Instability: Economic instability, impacting farmer income and agricultural investment.
– Mitigant: Develop contingency plans, engage with government officials, and enhance financial management.
3. Corruption and Governance: Corruption and governance risks impacting agricultural sector development.
– Mitigant: Enhance transparency and accountability, engage with anti-corruption agencies, and develop governance frameworks.