Geopolitical and country-specific risks : risk management strategies among Maltese grape farmers

Abstract

This thesis explores the geopolitical and country-specific risks Maltese grape farmers face and the risk management strategies adopted to reduce these risks. Given the Maltese islands' unique geographical and demographical constraints, Maltese grape farmers face several unique risks. Malta’s grape farming industry is noticeably vulnerable to global and local risks, which is why analysing these risks is crucial in understanding the sustainability of local grape farming practices. Moreover, this study analyses and discusses key themes such as resource constraints, climate change risks, risk management tools, risk perceptions and how Maltese grape farmers adapt to enhance resilience. The thesis commences by providing a background on geopolitical and country-specific risks and how risks are managed within the grape farming industry. It then reviews the relevant literature, exploring geopolitical and country-specific risks through a theoretical framework and examining how global and local farmers manage and adopt risk management strategies. Following this, the thesis outlines the methodology and details the interview process. The interview findings are analysed and discussed in the context of the literature review, focusing on discovering new geopolitical and country-specific risks and risk management strategies that were not found in the existing literature. This study adopts a qualitative approach, including in-depth interviews with Maltese grape farmers. These interviews yielded valuable insights into the farmers' experiences regarding the risks they face during operations and their strategies to manage various risks. The analysis revealed several critical findings. Geopolitical risks, such as international trade disruptions and political instability, directly affect the availability and cost of essential agricultural inputs like fertilisers and pesticides. These global factors, coupled with country-specific challenges such as limited land availability, rising land prices, and water scarcity, create a highly challenging environment for Maltese grape farmers. The study concludes that while Maltese grape farmers demonstrate impeccable resilience and adaptability to emergent risks, policymakers and regulatory bodies urgently need more support systems.