Agricultural Finance

<h1>AGRICULTURAL FINANCE</h1> CONTENT <ol> <li>Meaning of Agricultural Finance</li> <li>Definition of Agricultural Finance</li> <li>Importance of Agricultural Finance</li> <li>Sources of Agricultural Finance</li> </ol>   <h2>Meaning of Agricultural Finance</h2> It should be noted that all agricultural activities requires fiscal cash for effective farming activities. In most cases the cash has to be raised by the farmers, and where he cannot, he source for them. The loans which can be: Short, medium or long terms are paid by the farmers with interest. Farmers face a lot of problems in order to obtain the loan as they are required to provide collateral security or to pay high interest rate. Due to the nature of agricultural activities, such as (a) The risk involve (b) The long period it takes for maturity and (c) The yield at times not encouraging most financial institutions do not give loans to the farmers   <h2>Definition of Agricultural Finance</h2> This is the process of sourcing, acquiring and application of capital in agricultural business. OR Agricultural financing can also be defined as the acquisition or procurement and use of capital for the purpose of production, processing and marketing of agricultural products. It deals with the supply and demand of fund in agricultural sector economy A farmer must have money to carry out his farming activities.   <h2>Importance of Agricultural Financing</h2> <ol> <li>it enables the farmers to carry out production on a daily basis</li> <li>it helps the farmers to pay wages and other expenses</li> <li>it enables the farmers to adjust to changing economic conditions</li> <li>it increases the efficiency of production</li> <li>it ensures timeliness of operation</li>

Agricultural Finance: Agricultural Credit

<h1>AGRICULTURAL FINANCE - AGRICULTURAL CREDIT</h1> CONTENT <ol> <li>Meaning of Agricultural Credit</li> <li>Classification or Types of Agricultural Credits</li> <li>Differences between Agricultural Credits and Subsidies</li> <li>Problems Faced by Farmers in Procuring Agricultural Credits</li> <li>Problems Faced by Institutions in Granting Loans to Farmers</li> </ol>   <h2>Meaning of Agricultural Credit</h2> Credits are loans obtained by a farmer to start or expand his farming business. It may be in kind or cash. Credits are payable over a period of time with some interest determined by the source of the credits. Before credit is given out to a farmer, the lender needs detailed information about the borrower. Certain vital statistics are usually provided, such as; <ol> <li>Reliability of the citizen</li> <li>The intended purpose</li> <li>The plan for the proposed projects (feasibility Studies)</li> <li>The ability of the farmer to execute the project successfully</li> <li>Collateral Security in form of</li> <li>Landed property (stationed in good site)</li> <li>Stocks and shares</li> <li>Life assurance policy</li> </ol>   <h2>Classification or Types of Agricultural Credits</h2> <h3>Classification of Agricultural Credits based on Length or Period of Credit</h3> There are three types or classes of credits given to the farmers. They are based on length or period namely: <ol> <li>Short term credits</li> <li>Medium term credits</li> <li>Long term credits</li> </ol>   <h4>Short Term Credit</h4> This is a productive credit which the borrower is expected to refund in a year or less. It may be used to purchase livestock feeds, fertilizers, seeds, or to pay for hired labour. They are used to produce crops such as grains and cereals and animals that mature within short period such as broilers in poultry.

Agricultural Finance: Capital Market

<h1>AGRICULTURAL FINANCE - THE CAPITAL MARKET</h1> CONTENT <ol> <li>Meaning of Capital Market</li> <li>Institutions Involved in the Capital Market</li> <li>Sources of Funds for the Capital Market</li> <li>The Stock Exchange Market</li> <li>Companies Involved in the Stock Exchange in Nigeria Connected with Agriculture</li> <li>The Role of the Capital Market in the Development of Agribusiness</li> </ol>   <h2>Meaning of Capital Market</h2> A capital market is where business enterprises, companies and governments raise long term fund to carry out their activities. Capital market refer to institutions that deal with medium and long terms loans for investors to inject into their business. A typical example of a capital market is the stock market. Agricultural investors like other business practitioners can approach this market to source for fund for agribusiness.   <h2>Institutions Involved in the Capital Market</h2> The following institutions are involved in the capital market: <ol> <li>Commercial Banks</li> <li>Mortgage Banks</li> <li>Nigeria Agricultural Cooperative and rural Development Bank (NACRDB)</li> <li>Government Agencies e.g. Central Bank of Nigeria (CBN)</li> <li>Stock Broken Firms</li> </ol>   <h2>Sources of Funds for the Capital Market</h2> The capital market is funded through the following means: <ol>

Agricultural Insurance

<h1>AGRICULTURAL INSURANCE</h1> CONTENT <ol> <li>Definition of Agricultural Insurance</li> <li>Importance of Agricultural Insurance</li> <li>Types of Agricultural Insurance Policies</li> <li>Various Agricultural Risks</li> <li>Insurance Terms</li> <li>Problems of Agricultural Insurance</li> </ol>   <h2>Definition of Agricultural Insurance</h2> Generally, insurance is a form of risk management used to absorb the shock of unexpected loss. Agricultural producers have series of risks affecting the income and welfare of their households. These are mainly production risks in relation to weather conditions, pests and diseases and market conditions. Agricultural insurance can be defined as the agreement where one party (insurer) promises to pay another party (insured) of a sum of money in the event of suffering a specified agricultural loss or damage.   <h2>Importance of Agricultural Insurance</h2> The following are the importance of agricultural insurance: <ol> <li>It help to give the farmers or investors peace of mind because the insurance policy will meet the financial consequences of certain risks.</li> <li>It inculcate savings habit in farmers as to prepare them for future.</li> <li>Insurance certificate can be used as collateral security to secure loans from commercial banks by farmers.</li> <li>It help to contribute to the invisible earnings of the country i.e. foreign exchange.</li> <li>Life insurance can be used as a means of preparing for old age of a farmer.</li> <li>Insurance makes fund available for investment in agriculture.</li> <li>Losses are controlled by agricultural insurance by reducing the frequency and severity of losses.</li> <li>Social benefits such as employment opportunities,job security and continued contributions to nation building are encouraged by agricultural insurance policy because business is kept alive as long as the financial consequences of certain losses are met by the insurance.</li> </ol>   <h2>Types of Agricultural Insurance Policies</h2> The types of insurance policies include the following:

Farm Records and Accounts

<h1>FARM RECORDS AND ACCOUNTS</h1> CONTENT <ol> <li>Farm Records</li> </ol> <ul> <li>Meaning of Farm Records</li> <li>Importance of Farm Records</li> <li>Types of Farm Records</li> </ul> <ol start="2"> <li>Farm Accounts</li> </ol> <ul> <li>Definition of Farm Account</li> <li>Importance of Farm Accounts</li> <li>Types of Farm Accounts</li> <li>Definition of Some Accounting Terms</li> </ul> <ol start="3"> <li>Methods of Calculating Depreciation and Salvage Value</li> <li>Formula for Calculating Depreciation</li> </ol>   <h2>Farm Records</h2> <h3>Meaning of Farm Records</h3> Farm records refer to the documentation of all the various activities on the farm. It shows the major activities and transactions that take place in a farm enterprise over a period of time.   <h3>Importance of Farm Records</h3> A farm record keeping is advantageous in the following ways: <ol> <li>Farm records give the history of what has happened on the farm for the periods during which they are kept.</li> <li>It allows the manager to carry out performance evaluation of the farm business.</li> <li>It helps in determining the profitability of the business.</li> <li>It is an indispensable tool for the farm manager during planning and budgeting.</li> <li>It allows the manager to determine the efficiency levels of inputs used in the production.</li> <li>It is a vital requirement when seeking loans from banks.</li> <li>It enable both the government and managers to determine the amount of money payable by the farm business.</li> <li>It enables the manager to make or take sound management decisions about the farm.</li> <li>It is useful for insurance purposes.</li> <li>It gives room for comparism with the same farm enterprises in the same areas.</li> <li>Proper farm records assist the government at various levels when planning national agricultural and economic development programmes.</li> <li>It determines the farmers management skills.</li> <li>It gives an actual value of the farm in case of winding up.</li> <li>It also gives the actual farm yields.</li> </ol>   <h3>Types of Farm Records</h3> A good farm or farm manager keeps many important records which include the following: <ol> <li>Inventory records</li> <li>Farm dairy</li> <li>Production/yield record</li> <li>Income and expenditure record</li> <li>Inputs records</li> <li>Labour records</li> <li>Sales records</li> <li>Purchases records</li> <li>Supplementary records</li> <li>Consumption record</li> </ol>   <h4>Farm Inventory Record</h4> Farm inventory record is a written document containing the list of all items in the farm at a particular time. It is the complete account and evaluation of all assets and liabilities on the farm at a specified date. It shows the state of each equipment and its value.It is usually ten at beginning and at the end of each year. Below is an example of inventory record.

Crop Improvement

<h1>CROP IMPROVEMENT</h1> CONTENT <ol> <li>Meaning of Crop Improvement</li> <li>Aims of Crop Improvement</li> <li>Methods/Process of Crop Improvement</li> <li>Genetic Terms</li> <li>Mendelian Laws of Inheritance</li> </ol>   <h2>Meaning of Crop Improvement</h2> Crop improvement refers to the ways of developing and breeding of crop varieties which are better than the pre-existing cultivars in a number of characters like taste, height, colour, etc. for a better yield. Crop improvement is defined as the science that deals with the development of new crop varieties with superior quality and quantity.   <h2>Aims of Crop Improvement</h2> The following are the aims of crop improvement: <ol> <li>To improve the quality of produce</li> <li>To increase crop yield</li> <li>To adapt crops to adverse climatic conditions</li> <li>To induce resistance to pests and diseases in crop plants</li> <li>To conserve land resources</li> <li>To breed crops with uniform growth and maturity</li> <li>To meet particular needs of growers and consumers</li> <li>To improve harvesting qualities thereby harvesting is done with ease</li> <li>To meet the needs of consumers (processors or industrialists)</li> </ol>   <h2>Methods/Process of Crop Improvement</h2> The methods of crop improvement include the following: (a) Introduction (b) Selection (c) Hybridization/Cross Breeding   <h3>(a) Introduction</h3> Involves movement of plant(s) from the centre of origin of a supposed centre of evolution to another place where they can adapt and survive. Such imported crops are usually guaranteed by the nation’s plant quarantine service before introducing it to the country.   <h4>Advantages of Introduction</h4> <ol> <li>It is used to upgrade the qualities of the local varieties.</li> <li>It brings about varieties adaptable to the soil and climatic conditions of the new area.</li> <li>It enhances greater productivity.</li>

Animal Improvement

<h1>ANIMAL IMPROVEMENT</h1> CONTENT <ol> <li>Meaning of Animal Improvement</li> <li>Aims of Animal Improvement</li> <li>Methods/Processes of Animal Improvement</li> <li>Artificial Insemination</li> </ol>   <h2>Meaning of Animal Improvement</h2> Animal improvement is the process whereby inherited superior traits are transferred from one animal to the other of the same species. Certain characteristics such as good feeding conversion, growth rate, meat quality, high milk yield, good body form, etc. are major considerations in animal improvement.   <h2>Aims of Animal Improvement</h2> The following are the aims of animal improvement: <ol> <li>To produce animals with high yielding quality</li> <li>To produce animals with high feed conversion rate</li> <li>To produce animals with high growth rate and early maturity</li> <li>To produce animals that can adapt to varied climatic conditions</li> <li>To produce animals that are resistant to disease and parasites</li> <li>To produce different breeds of animals</li> <li>To produce animals that meets a particular purpose</li> </ol>   <h2>Methods/Processes of Animal Improvement</h2> The following are the methods/processes of animal improvement: (a) Introduction (b) Selection (c) Breeding   <h3>(a) Introduction</h3> This is bringing animals which are not native of a place but are known to have certain desirable characters into a new place from the place of origin. Such animals are called exotic. Introduction can be by physical importation either of the animals themselves or their semen. <h4>Advantages of Introduction</h4> <ol> <li>It enhances greater productivity.</li> <li>It leads to absence of pests and diseases.</li> <li>Breeds may perform better and able to adapt to local conditions.</li> </ol>

Animal Health Management

<h1>ANIMAL HEALTH MANAGEMENT</h1> <ol> <li>Meaning of Animal Health Management</li> <li>Meaning of Disease</li> <li>Causal Organisms of Animal Diseases</li> <li>Predisposing Factors to Diseases</li> <li>Signs of Infections in Animals</li> <li>Reactions of Animals to Pathogenic Attacks</li> <li>Economic Importance of Diseases</li> <li>Selected Diseases of Farm Animals - Affected Animals; Causal Organisms; Mode of Transmission; Symptoms; Prevention/Control</li> <li>General Prevention of Livestock Diseases</li> </ol>   <h2>Meaning of Animal Health Management</h2> Animal health management deals with monitoring the health status of the animals on the farm. It is apparent that a healthy animal will be productive while unhealthy animal apart from not been productive becomes a liability as money would be spent for their treatment. Besides, there is a high risk of transferring the infections to other animals.   <h2>Meaning of Disease</h2> A<strong> disease condition</strong> is a deviation from normal functioning state of the animal’s body which comprises of different components working in unity. In a nutshell, disease is any condition in which there is departure from the normal functioning of the system of the animal’s body.   <h2>Causal Organisms of Animal Diseases</h2> The causal organisms of animal diseases are classified as follow: <h3>1. Pathogenic organisms/factors</h3> These are; <ul> <li>Bacteria</li> <li>Virus</li> <li>Fungi</li> <li>Protozoa</li> <li>Nematodes</li> <li>Parasites</li> </ul> <h3>2. Non-pathogenic factors</h3> These are factors like; <ul> <li>Nutritional deficiency</li> <li>Inanimate objects like chemicals, environmental conditions (extreme cold or heat)</li> </ul>   <h3>Bacteria</h3> They cause diseases by secretion of toxins. Diseases are infectious and contagious. They are transmitted by air, water and animals inform of spores. Examples of bacteria diseases are contagious abortion, anthrax, mastitis, T.B, fowl pox, cow pox, etc.

Animal Health Management: Parasites

<h1>ANIMAL HEALTH MANAGEMENT</h1> CONTENT <ol> <li>Meaning of Parasites</li> <li>Types of Parasites</li> </ol> <ul> <li>Ecto-parasites - Ticks, Lice, Mites, Flies</li> <li>Endo-parasites - Tape Worm (<em>Taenia spp), </em>Round Worm (<em>Ascaris lumbricoides</em>), Liver Fluke (<em>Fasciola hepatica</em>)</li> </ul>   <h2>Meaning of Parasites</h2> Parasite is an organism which lives on or inside the body of another organism called the host in order to derive all its nourishment such as food, shelter and protection. The parasite does not provide any benefit but causes damage or harm to the host in return. The host usually belongs to a different species and is often bigger and stronger than the parasite. Sometimes the relationship with the parasite causes the death of the host or reduces its productivity. The relationship between the parasite and the host is known as Parasitism. Based on this relationship, a parasite may be temporary, (living for a short period in or on the host) or permanent, (living their entire lives in the host e.g. endo-parasites)   <h2>Types of Parasites</h2> Livestock parasites are grouped into two namely; <ol> <li>Ecto-parasites</li> <li>Endo-parasites</li> </ol>   <h3>1. Ecto-parasites</h3> These parasites live outside or on the hosts. They usually attach themselves to the skin of the animals. Ecto-parasites include ticks, lice, mites, fleas, flies, etc. <h4>(i) Ticks</h4> Ticks affect livestock such as cattle, sheep, horses and dogs. They live all their lives attached to the hosts and suck blood except during the period of mounting and reproduction. Tick belongs to the order of Acarina and the class Aranchinda.   <h5>Classification of Ticks</h5> <h6>(a) Classification of Ticks based on Mode of Development</h6> <ol> <li><strong>One Host Tick</strong>: All stages of development takes place in one host animal e.g. blue tick.</li> <li><strong>Two Host Tick</strong>: The lava develops into nymph on the first host. The nymph falls off and moults into adult which attaches to the secondary host e.g. red legged tick.</li> <li><strong>Three Host Tick</strong>: These attach to different animals at each stage of development, drop off and moult into the next stage on the ground e.g. water tick.</li> </ol>   <h6>(b) Classification of Ticks based on Body Texture</h6> <ol> <li>Hard tick (Ixodidae)</li> <li>Soft tick (Argasidae)</li> </ol>   <h5>Life Cycle of Host Tick</h5> <img class="size-full wp-image-56041 aligncenter" src="" alt="Animal Health Management - Parasites - Life Cycle of a Host Tick" width="499" height="408" /> Ticks are important arthropods and vectors of infectious diseases. They carry both viruses and protozoan producing organisms. When unfed they are flat, but spherical when engorged with blood of warm blooded vertebrates. They are unisex, the female after mating sucks blood many times until it increases in size. The stages of development: Eggs → Larva → Nymph → Adult Ticks have eight walking legs. Their eggs are laid on the ground and larva emerges to climb grass or shrubs and attaches to any passing animals. The eggs hatch out in about 3-4 weeks depending on the climatic condition.   <h5>Economic Importance of Ticks</h5> <ol> <li>Loss of blood and weight</li> <li>Reduction in quality of hide and skin which lead to reduction in market value</li> <li>Reduction in the production of meat and milk</li> <li>Restlessness caused by skin irritation</li> <li>Loss of farmers’ income</li> <li>Injuries from bite causes secondary infection</li> <li>It causes and transmits diseases such as heart water disease, red water disease, anaplasmosis, tularemia, typhus, etc.</li> <li>It produces substance which causes toxic effect on animals</li> <li>Transmitted diseases may cause death and eventually reduce number of stock</li> </ol>   <h5>Control of Ticks</h5> Ticks can be controlled by the following: <ol> <li>Good sanitation</li> <li>Regular dipping in solution of acaricides</li> <li>Spray animals’ beddings with insecticides</li> <li>Adopt rotational grazing</li> <li>Burning of infected pasture</li> </ol>   EVALUATION <ol> <li>State the classification of ticks and give examples for each.</li> <li>Why is the control of ticks necessary in animal production?</li> </ol>


<h1>AQUACULTURE</h1> CONTENT <ol> <li>Meaning of Aquaculture</li> <li>Importance of Aquaculture</li> <li>Types of Aquaculture</li> <li>Fish Farming</li> </ol> <ul> <li style="list-style-type: none;"> <ul> <li>Classification of Fish</li> <li>Conditions Necessary for Siting a Fish Pond</li> <li>Construction of a Fish Pond</li> <li>Maintenance of Fish Pond</li> <li>Methods of Fish Harvesting/Cropping</li> <li>Basic Laws and Regulations of Fishing</li> <li>Fish Preservation</li> </ul> </li> </ul>   <h2>Meaning of Aquaculture</h2> The term <em>fish</em> is applied to a variety of cold-blooded, water-dwelling (aquatic) animals that belong to the phylum Chordata. Fishes belong to four different classes consisting of bony, cartilaginous, jawless and fleshy-finned fishes. Aquaculture/fish farming is the propagation and husbandry of aquatic organisms in artificial water bodies for commercial, recreational and scientific purposes. Aquaculture refers to both marine and fresh water species and can range from land based to open ocean production of fish, shrimp, and other aquatic animals.   <h2>Importance of Aquaculture</h2> The following are the importance of aquaculture: <ol> <li>It is a source of protein man and livestock diets</li> <li>It provides employment and income to farmers</li> <li>Fishes are useful for educational purpose to students and researchers</li> <li>It provides a means of recycling domestic waste such as animal dung</li> <li>It serves as source of foreign exchange through exportation of fish and fish products</li> <li>Fish oil serve as food and is also used in the manufacture of soaps</li> <li>Fish farming encourages the economic use of land</li> <li>It is used as tourist and entertainment</li> <li>It can be consumed by all categories of people, since it has no religion and traditional limitation.</li> </ol> <h2>   Types of Aquaculture</h2> There are different types of aquaculture. These are; (i) Fishery (ii) Shrimps rearing (iii) Crab rearing (iv) Cray fish rearing (v) Lobster rearing (vi) Prawn rearing (vii) Oyster shell rearing (viii) Marine snail rearing (ix) Squid rearing (x) Mussel rearing (xi) Clam rearing (xii) Octopus rearing (xiii) Rearing of aquatic mammals such as whales, etc. (xiv) Periwinkles rearing <img class="size-full wp-image-56723 aligncenter" src="" alt="Aquaculture - Tilapia fish" width="381" height="241" /> <p style="text-align: center;">Tilapia Fish</p>   <h2>Fish Farming</h2>

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