Aspirations over tradition: Understanding Thai family farm succession planning

Abstract

AbstractOur study aimed to examine the factors affecting family farm succession plannung. Results from a survey of 368 elderly farmers showed that some farmers were at an early planning stage (Stage 1; 12%), starting conversations with their children about the potential succession, while most were at a more advanced stage, which included involving their children in daily farm work (Stage 2; 38%). Approximately 22% of respondents involved their children in farm decision‐making while gradually transferring full responsibility to them (Stage 3). Farmers whose children indicated an interest in farming were more likely to be at the advanced stages of planning.