Thailand - FPO pushes wider crop insurance cover

24.09.2015 478 views
The Fiscal Policy Office (FPO) has floated the idea of cutting the government's compensation paid for crops damaged by natural disasters but urged a rise in compensation paid by crop insurance in order to encourage more farmers to buy policies. Crop insurance must be increased while government compensation is decreased to expand insurance coverage areas, said FPO financial policy adviser Lavaron Sangsnit. For instance, crop insurance compensation can be raised to 1,500 baht a rai if government compensation for crops damaged by natural disasters is trimmed to 800 baht per rai from 1,113 baht at present. The government pays 1,113 baht a rai for up to 30 rai for farmers whose crops are affected by natural disasters. Those who take out crop insurance policies get an additional 1,111 baht a rai. A study found crop insurance premiums will be lowered significantly if coverage areas reach 10 million rai, he said. Farmers who grow rice in the riskiest areas will see crop insurance premiums decline to below 300 baht a rai from 450 baht, while premiums will fall to 200 baht a rai if crop insurance areas reach 20 million rai. Around 1.5 million of the 63 million rai of rice fields in Thailand are covered by crop insurance. The insurance scheme divides farmland into five areas depending on risk exposure. covered by crop insurance. The insurance scheme divides farmland into five areas depending on risk exposure. The premiums have been set at 124-484 baht a rai according to risk.   Luck Wajananawat, president of the state-backed farm bank, said the insurance scheme was a pilot project and could be extended to the second rice crop and other farm products from the main rice crop. Anon Vangvasu, president of the Thai General Insurance Association, said seven insurance firms in the scheme had lost 2 billion baht in the past two years because the coverage areas were too small. Source - http://www.bangkokpost.com
05.10.2025

Indonesia's shrimp industry suffering after radioactive case, association says

Indonesia's shrimp industry suffered a 30-35 per cent drop in processing absorption after a radioactive contamination was detected in a batch of shrimp shipped to the US in August, the country's shrimp farmers' association said on Friday.

05.10.2025

Nigeria - Fintiri Administration Boosts Agriculture with Tractors and Fertilizer Support for Dry Season Farming

Governor Ahmadu Umaru Fintiri’s administration has announced plans to strengthen agricultural production in Adamawa State through the purchase of 22 Massey Ferguson tractors and the allocation of ₦1.9 billion for fertilizer procurement to support dry season farming.

05.10.2025

USA - MDA awarded $11 million to advance innovative irrigation practices

The Minnesota Department of Agriculture, in partnership with local and regional organizations, has been awarded $11.16 million through the U.S. Department of Agriculture’s Natural Resources Conservation Service to expand conservation practices on irrigated agricultural land across the state.

05.10.2025

Tanzania plans to allocate 6m hectares for livestock farming

THE Chama Cha Mapinduzi presidential candidate, Dr Samia Suluhu Hassan, has said her government will allocate six million hectares of open land countrywide to benefit livestock farmers, including those in the Kilimanjaro region.

05.10.2025

Slovenia blocks Albanian peppers over pesticide residues

A shipment of peppers from Albania was blocked by Slovenian authorities after testing revealed pesticide residues exceeding legal limits. 

05.10.2025

Study may help Scottish kelp industry address key commercialization challenges

The U.K. Seafood Innovation Fund (SIF) and U.K. Sustainable Aquaculture Innovation Centre (SAIC) have released a new case study on Scottish kelp farming which the organizations say could represent a “step-change for the Scottish kelp industry.” 

02.10.2025

Nigeria - Adamawa govt approves over N26b for roads, agriculture, other projects

The Adamawa State Government has approved over N26 billion for capital projects aimed at improving road infrastructure, boosting agricultural productivity, and strengthening essential public services across the state.

02.10.2025

USA - AI-powered irrigation system offers opportunities for communications, farming

UC Merced, UC ANR partner to test AI-guided watering of almond orchard at Kearney REC