Completed Project Report


Risk Management Education in Southwest Medicinal Herb Production and Marketing

  • Award Amount: $46,201
  • Regional Center: Western Extension Risk Management Education Center
  • Grant Program: 2010 Competitive Grant Program
  • Project Director:
  • Email: cmartin@nmsu.edu
  • Organization: New Mexico State University

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Project Overview

We conducted a risk management educational program to help growers manage risks associated with collecting, producing, and marketing native medicinal herbs of the US Southwest. Risk management subjects included: product diversification, market outlook, marketing strategies, direct markets, and value-added enterprises. Project delivery consisted of: 1) Intensive training programs in Farmington, and Albuquerque, NM. The aims were to assist grower participants on understanding basic risk management and empower entrepreneurship and promote networking with established herb growers/processers. 2) An online tutorial, and 3) Educational DVDs. Audience emphasis was targeted at small-scale, limited-resource, and socially-disadvantaged farmers. The topics covered during the workshops included presentations on cultural sensitivity and understanding the need to balance culture and commerce; entrepreneurship; identification of potential herb species to fit specific markets; growing, harvesting and value-added production methods and associated risks and risk management options; understanding unique risks associated with quality control and marketing herbs; and develop financial management plans as they pertain to financial risk management. Post workshop follow-up occurred 6-10 months after workshops. Results indicated that about 5 participants began the process of applying risk management principles. Respondents indicated that the workshop series improved their interest and understanding of managing risks associated with growing southwestern medicinal herbs.

Number of Participants: 40

Results

Project Steps

PROMOTIONAL MATERIALS

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EDUCATIONAL MATERIALS

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REPORTS & EVALUATIONS

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DELIVERY AREA

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