Received: 16-01-2023 / Accepted: 03-04-2023
To contribute to the development of rice crop insurance in the Mekong Delta, this study aimed to estimate the willingness to pay and identify the factors affecting the willingness to pay of rice farmers. Thestudy was conducted through the insurance scenario of rice yield index due to weather, climate and disease risks by contingent valuation method in the form of double-bounded dichotomous choice. The article data were collected from direct interviews with 463 rice farmers in the Mekong Delta in 2019. Results show that 47.5% of respondents agreed with both the first premium and the next higher premium when asked while 17.1% of individuals disagreed with both premiums even though the second was recommended lower and 35.4% of other cases. The average willingness to pay was estimated to be 68.633 VND/1,000m2/crop. The research results also pointed out the factors affecting the willingness to pay of rice farmers such as education, production costs, dikes, selling price, loans, other incomes and risk response.