India - Barring Nagpur, more farmers across state opt for crop insurance

12.08.2020 493 views
Despite problems in availing finances from banks, farmers across Maharashtra have come forward to insure their crops. In the last few years, the share of non-loanee farmers who opted for the Pradhan Mantri Fasal Bhima Yogna (PMFBY) is far more than those who opted for crop loans from financial institutions. The last date for farmers to fill up the forms for the scheme ended on July 31, but the work of reconciliation of data on the bank’s end is expected to continue till August 15. As of August 6, data shows that 94.03 lakh farmers have insured their crops, paying an insurance amount of Rs 421.72 crore. Of the above, 87.57 lakh farmers are non-loanees, of which 6.43 lakh farmers have taken a loan from financial institutions at the start of their agricultural cycle. The scheme is mandatory for farmers who opt for crop loans, as the bank deducts the premium amount while disbursing the crop loan. For farmers who self-finance their agricultural activities, the scheme is optional, and if they wish to opt for the same, they need to go to the local Common Facilitation Centre (FCF) kiosk and pay the insurance amount. As the figures show, non-loanee farmers form the bulk of insurees in the state. During the kharif of 2019-20, of the 1.26 crore farmers who had insured their crops, 1.11 crore were non-loanees, while 14.77 lakh were loanees. The trend was similar during 2018-19, when, of the 95.35 lakh farmers who insured their crops, 79.85 lakhs were non-loanees, while 15.50 lakh had opted for crop loans from banks. Maharashtra’s disbursal of crop loans has been on a decline for the last three years, as more farmers have defaulted on their repayment schedule on the promises of crop loan waiver. At present, the Mahatma Jyotirao Phule Shetkari Karja Mukti Andolan is at its last steps, with around 29 lakh of the 32 lakh eligible accounts receiving the waiver. Barring the six districts in Nagpur division (Nagpur, Wardha, Bhandara, Gondia, Chandrapur and Gadchiroli), the above trend holds true for all other districts in the state. In fact, farmers in Marathwada, which alternates between unseasonal torrential rains and drought, have reported better enrolment numbers than the irrigated parts of Western Maharashtra. Maharashtra’s better record in terms of payment of compensation is one of the reasons why the scheme has received such approval from the state. The anomaly in Nagpur division, farm activist Vijay Jawandhiya said, was due to the lethargy of the agriculture extension services to popularise the scheme. “The non-loanee farmers do not know about the benefit of the scheme – that’s why the enrollment is low in these parts,” he added. Source - https://indianexpress.com
21.05.2026

India - ₹247 crore released to provide UP farmers’ crop insurance

UP govt approved Rs 450 crore subsidy as part of the National Crop Insurance Programme (NCIP), a crucial protective measure for farmers amid instances of crop damage caused by inclement weather. 

21.05.2026

Philippines - Pioneer sees growing demand for ‘sachet-style’ insurance

Pioneer Group of Companies sees rising demand for “sachet-style” insurance products as climate-related risks heighten vulnerabilities among low-income communities in the Philippines.

21.05.2026

USA - San Joaquin cherry crop hit by heat and rain damage

Cherry growers across California are reporting major crop losses following early-season heat and rain events that affected fruit set, quality, and harvest conditions during the 2026 season.

21.05.2026

Foreign Investors Target Nigerian Insurance Firms Ahead of Recapitalisation Deadline

Foreign investors are increasingly seeking majority stakes in Nigerian insurance companies ahead of the sector’s recapitalisation deadline, reflecting growing confidence in the industry’s long-term growth prospects and expected market consolidation.

21.05.2026

Flood damage adds new pressure on South Africa’s agriculture sector

South Africa’s agriculture sector is facing mounting pressure from recent floods in the Western Cape and other parts of the country, even as prospects for strong harvests in several subsectors remain positive, according to the Agricultural Business Chamber of South Africa (Agbiz).

21.05.2026

Philippines - Capisnon farmers receive indemnity checks from PCIC, boosting agricultural recovery efforts

A total of 384 farmers from the municipalities of Dao, Cuartero, and Dumarao received indemnity checks from the Philippine Crop Insurance Corporation during a distribution event held on May 19, at the Cuartero Civic Center.

20.05.2026

Georgian spring frosts damage seasonal fruit crops

April frosts have seriously damaged seasonal fruit crops in Georgia, according to agronomist and farmer Akaki Glonti, who commented on the situation amid continuing price growth.

20.05.2026

USA - New Jersey declares State of Emergency and seeks Disaster designation after April freeze causes USD 300 million in crop losses

New Jersey declared a State of Emergency on May 20, 2026, and requested a federal Disaster designation after freezing temperatures between April 19 and 22 caused widespread agricultural damage across the state during a critical growing stage.