As the flood waters begin to recede across the state, residents and business owners are left to assess the damage. For Darren Perry, the loss feels insurmountable. This is Perry’s first year as a commercial farmer. He lost all of his corn and most of the wheat crop, which was worth more than $1 million.
Flood caused financial damages amounting to 30 trillion rials (about $714 million) only to Khuzestan province’s farming lands, Agriculture Minister Mahmoud Hojjati said. Horticulture, animal husbandry, apiculture and poultry farming have borne the most damages in agriculture sector, as some 600 poultry farms have been damaged across the country, he lamented.
The crops of the Region of Murcia have suffered the consequences of the first spring frosts, after the minimum temperatures dropped as low as five degrees below zero between March 23 and 26, causing losses estimated at 14.7 million Euro. The most affected areas are those of the Altiplano, Alto Guadalentín, Vega Alta and Northwest, namely Jumilla, with 2,825 hectares, Lorca (1,530 ha), Caravaca (904), Yecla (850), Moratalla (716), Cehegín (584) and Bullas (229 hectares). However, damage has also been recorded in the Rio Mula county and other areas of the Region.
Reportedly, post harvest losses range from 10% to 20% for different crops in Pakistan. To achieve food security, containing such colossal losses should be the top priority of the Government of Pakistan (GoP). Analysts are of the consensus that if such losses are contained, twin benefits can be achieved: 1) increasing income of farmers and 2) boosting exports from the country.
Flooding linked to Cyclone Idai, which lashed southeast Africa last month, could reduce Malawi’s staple maize crop by around 20 percent this farming season, Agriculture Minister Joseph Mwanamvekha said on Tuesday. “The floods washed away 71,111 hectares, translating into about 639,999 metric tonnes of potential maize production in five agricultural development divisions, effectively reducing our projected yield for this year,” Mwanamvekha told Reuters.
Across parts of the Midwest, hundreds of livestock are drowned or stranded; valuable unsold, stored grain is ruined in submerged storage bins; and fields are like lakes, casting doubt on whether they can be planted this year. These are especially cruel times for Nebraska and Iowa farmers who had to scrape money to keep going just eight years ago, when floods overtook their lands in 2011.
Bermudian re/insurance group AXIS Capital Holdings has announced a $198 million net loss for the fourth quarter of 2018, driven by heavy attritional property and catastrophe activity. This $198 million Q4 net loss, with a 117.3% Combined Ratio (CR), compares to the $38 million net loss and 100.7% CR reported in 2017 for the same time period. Pre-tax catastrophe and weather-related losses were $92 million primarily attributable to Hurricane Michael and the California Wildfires in Q4, compared to $34 million in the same period in 2017.
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