Local poultry producers are not risk-takers. The Philippine Star reports that conclusion from Dr Raquel M. Balanay of the Caraga University-College of Agricultural Sciences and Natural Resources (CU-CASNR) in Butuan City based on her study entitled 'Price Volatility and Supply Response of Poultry in the Philippines'.

The CU-CASNR assistant professor explained: "Chicken producers are risk-averse and not risk takers because of the short-term changes in the price of poultry products. Price changes affect the behaviour of poultry producers towards the use of expectations in planning and decision-making."

Her study was her dissertation that capped her pursuit of a doctorate (PhD) in Agricultural Economics at the University of the Philippines Los Banos-College of Economics and Management (UPLB-CEM) here.

Dr Balanay earned her PhD as a scholar of the Southeast Asian Ministers of Education Organization-Regional Center for Graduate Study and Research in Agriculture (SEAMEO SEARCA) hosted by the Philippine government on the UPLB campus.

SEARCA, headed by Director Gil C. Saguiguit Jr., is one of the 20 Centers of Excellence of SEAMEO, an inter-government treaty body founded in l965 to foster cooperation among Southeast Asian nations in the fields of education, science, and culture.

Now on its 45th year, SEARCA is mandated to address Southeast Asia's agricultural and rural development needs of through capacity-building interventions such as scholarships and other academic grants. To date, the centre has awarded 356 master’s (MS) and PhD scholarships and 24 PhD research scholarships to Filipinos, aside from those granted to nationals of the l0 other SEAMEO (Southeast Asian) member-countries.

Dr Balanay's dissertation was judged as the Best PhD Thesis in Agricultural Economics by UPLB-CEM in school year 20l0-20ll.

She subsequently discussed the results of her study at SEARCA's Agriculture and Development Seminar Series (ADSS) held every Tuesday.

Her study focused on poultry production because of its importance to Philippine agriculture.

As reflected by the Philippine Country Report of the United States Department of Agriculture-Foreign Agricultural Service (USDA-FAS), poultry production accounts for l4 per cent of the country's entire agricultural production.

The Caraga University economist said that uncertainty in the prices of poultry products may weaken the poultry industry in the country.

To counter the effects of and lessen price volatility in poultry, Dr Balanay recommended the improvement of market coordination and hedging options, establishment of a monitoring system for price volatility, as well as upgrading the government's information network capability.

The government should also provide support for easy access to interconnected information systems, she added. Moreover, for stakeholders who do not have access to online databases, extension services for transmission of relevant market information should be improved.

Statistical agencies, she continued, should improve collection and organisation of online databases.

The Philippine Star reports Dr Balanay's conclusion: "Further research on price volatility and supply response in poultry and other commodities, as well as on the improvement of poultry breeds, should also be conducted."