Insurance for coffee trees against natural calamities
Various kinds of agricultural insurance designed for coffee trees in Vietnam were discussed in depth during a seminar in Buon Ma Thuot city, the Central Highlands province of Dak Lak on August 21.
Various kinds of agricultural insurance designed for coffee trees in Vietnam were discussed in depth during a seminar in Buon Ma Thuot city, the Central Highlands province of Dak Lak on August 21.
The event, organised by the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD), aims to strengthen risk management in the coffee sector through insurance.
IPSARD Vice Director General Tran Cong Thang put forward 14 agricultural insurance models for coffee trees, covering risks, rights, productivity, value and duration.
Participants at the event voiced their feedback on insurance service fees, premiums and risk calculation measures.
Vietnam is currently home to 671,000 hectares of coffee, making it one of the major currency earners.
Last year, the country earned 3.55 billion USD from cof🌞feeꦺ export.-VNA
The Government wants to pilot an agricultural insurance scheme in some localities from July, but insurers are reluctant to get involved.
In newly ratified Decision 315, the Government said agricultural insurance aimed to cover farmers affected by natural calamities and crop and stock diseases.
Three years since Vietnam started to introduce agro- insurance policies back in 2011, bottlenecks still remained and there was plenty of work to be done to protect farmers from natural disasters.
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Dak Lak province, the country's largest coffee producer, will replace more than 16,475ha of old coffee trees which have had a low yield from now to 2020.
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Illustrative image (Source: Internet)
