The United Kingdom-based charity organization Oxfam International announced the success of its blockchain-based delivery system of microinsurance to paddy field farmers in Sri Lanka.In a Nov. 4 press release, Etherisc announced that Oxfam’s blockchain-based insurance system had made pay-outs to Sri Lankan farmers who continue to risk losing their crops due to extreme weather events. Blockchain reduces costs and increases pay-outs Oxfam in Sri Lanka, together with its partners Etherisc and Aon plc, will now continue to seek solutions to some of the challenges that will present themselves as the new cropping season starts in the month of November. In the past, issues such as lack of affordable and reliable insurance products, a lack of understanding about how insurance would help a farmer survive, and when and how a claim would be paid, have always acted as major barriers that prevented farmers from utilizing insurance. However, the use of blockchain technology can transform and simplify the insurance claims process, which results in reduced administration costs and a higher percentage of premiums being used for fully trusted pay-outs. Chief inclusive officer at Etherisc Michiel Berende said: “We are proud to have real-world, on-the-ground success from a blockchain solution for microinsurance [...] We are delighted with the first phase results and we are excited to drive on and help more farmers.” Oxfam continues to use stablecoins to distribute aid In June, Oxfam partnered with Australian tech startup Sempo and blockchain company ConsenSys to test stablecoin Dai’s (DAI) suitability for aid in regions suffering from natural disasters. With the support of the Australian government, a philanthropic initiative was launched and dubbed UnBlocked Cash. Oxfam and Sempo reportedly chose the world’s most natural disaster-prone country, Vanuatu, to test the system. In September, Oxfam initiated the pilot program’s second phase to further distribute disaster relief. Joshua Hallwright, Oxfam Australia’s humanitarian lead, told Cointelegraph in June that it was “highly likely that Oxfam will use stablecoins or other distributed ledger technologies to provide cash aid in disaster responses in the future, either in Vanuatu or elsewhere.” Source - https://cointelegraph.com
USA - Summer weather still impacting farmers as fall harvest begins
It was a summer of significant crop loss for U.S. farmers as drought and severe rain events tore through the country. As the fall harvest season begins, some farmers are still recovering. In Northeast Ohio, harvest season will start late on Jason Schriver’s 300 acres of farmland.
Philippines - Agriculture damage due to Maring now over P1B
The damage left to the country’s agriculture sector by Severe Tropical Storm Maring after ravaging northern Luzon and parts of the Visayas has risen to more than a billion pesos, the Department of Agriculture (DA) said Friday.
USA - Storms down fungus-infected crops
A combination of fungus and this week’s stormy weather is ravaging crops. We first told you about tar spot on Monday. It has been devasting to farmers. “Going into this, this should have been one of the best crops the guy has ever raised in to see it now flat,” said Marc Eads, farming consultant.
India - Exposed at sea, fishers need better insurance to manage climate risks
Rufino Possa, 52, a fisher from Uttan, a coastal village in north Mumbai, returned home on October 2, after 12 days at sea, four days more than he planned. The rough seas churned up by Cyclone Gulab towards the end of September meant that he could not find any catch.
USA - Idaho sees 40 percent reduction in 2021-2022 onion crop
Idaho onions have finished with harvest and one grower says there’s a 40 percent reduction in the crop over last year. "I attribute it to five different things,” says Shay Myers of Parma, ID-based Owyhee Produce. “There was record dry weather, record windy weather, record high temperatures, record smoke-filled skies and a record labor shortage.”
China - Apple supply at risk due to hailstorms in Shaanxi Province
Last month, the average price of Chinese apples rose by 1.7% m-o-m to USD 1,115/MT due to several extreme weather events in the northwest of China. China is the world’s largest producer of apples, accounting for almost half of global production.
Time will tell if challenging 2021 grape harvest affects wines across world
The heady aroma of crushed grapes (must, as it is known in the industry) is filling the air of wineries across the Northern Hemisphere. Starting as early as August in some regions, and continuing into October in others (depending on varietal and climate), the 2021 grape harvest is shaping up to be one for the record books—not all of it in a good way.
India - No MSP procurement of Bajra in state, farmers facing losses up to Rs 1000 per quintal
The Bajra (Millet) producing farmers of Rajasthan are facing a loss of up to Rs 900-1000 per quintal as there is no MSP (minimum support price) procurement of the crop in the state till now. The issue is heating up as the neighbouring state Haryana is not only procuring it but giving price differences to the Bajra producing farmers.