Navigating risks and uncertainties: Risk perceptions and risk management strategies in the Philippine seaweed industry

Abstract

The Philippine seaweed industry is affected by multiple but interrelated risks. Farmers mainly encountered environment-related risks (e.g. disease, pest infestations) which, if unmanaged, could result to production failure. Traders and processors considered volatility of seaweed supply and poor quality of raw materials as precursors of other risks such as increased competition among local traders and processing companies. Gender differences in awareness and knowledge of risks were more prominent among seaweed farmers but not among traders and processors as roles become more homogenous up the value chain. Poor governance resulted in the adoption of informal and market-driven strategies to prevent or minimise losses. However, this restricted farmers to participating in higher-income trading and processing activities and contributed to increased market inefficiency. The lack of government support has also curtailed the capacity of traders and processors to engage in product development and diversification. Gender and community experiences influence and shape people's understanding of their situations and environment including their coping and adaptive strategies in sustaining livelihoods amidst recurring risk events. Embedding informal structures and the differential needs of the stakeholders in the national institutional framework is therefore essential for the promotion of resilient and sustainable seaweed industry.