Capitol allocates P10M for agri-fishery insurance

CEBU, Philippines – The Cebu provincial government will allocate P10 million next year as premium payment for its agri-fishery insurance program facilitated by the Philippine Crop Insurance Corp., an official said.

Provincial Agriculturist Roldan Saragena said the provincial government also allotted P10 million this year for insurance premiums of farmers and fisherfolk insured by PCIC.

It was last year when the government signed an agreement with PCIC to provide free crop insurance coverage to marginalized farmers and fishermen in Cebu.

Last year the Province gave out P8 million to subsidize the premiums of farmers for the insurance coverage of rice, corn, high-value crops, livestock, fishery and agricultural assets.

Saragena said the insurance program is one way to help agricultural players prepare for the effects that the ongoing El Niño phenomenon may have on the sector.

Such insurance protects farmers and fishermen from the ill effects of drought, typhoon, flood and other calamities.

Saragena said in an interview with The FREEMAN that the prevailing El Niño episode has continued to threaten the farmers.

"There will be a decrease in agricultural production but not significant," the official said when asked about the impact of El Niño which the state weather bureau PAGASA predicted to worsen through year's end and early next year.

Saragena said the Province's disaster risk management office gave the Provincial Agriculture Office a P5-billion budget this year for the purchase of agricultural inputs to aid farmers in times of calamities.

The provincial agriculturist said his office is to seek funds from the government for various programs next year such as water impounding and catchment projects (P10 million) and farm inputs for farmers (P5 million).

These, he said, form part of their mitigation plan for El Niño plan.