44,690 Negros Occidental Farmers Avail Insurance


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Almost P83 million worth of crop insurance premium subsidy from the government for 2018 was availed by farmers and fisherfolks in Negros Occidental, reported by Philippine Crop Insurance Corp (PCIC).

Philippine Crop Insurance Corp is an implementing government agency for agricultural insurances.

Moreover, as cited in the report of Sunstar, PCIC-Negros Occidental records showed that the bulk was utilized for farmers and fisherfolk enrolled under Registry System for Basic Sector in Agriculture (RSBSA) amounting to P72.9 million.

Respectively, breakdown showed that there are P56.5 million is for the crop sector covering 28,937 recipients of rice, corn, high-value crops, and fishery insurance lines with a total area of 27,846.19 hectares.  Further, livestock sector  availed almost P15.8 million in subsidy, and non-crop insurance (NCI) particularly fishing boats worth P690,400 for 438 fisherfolk. According to the report, the remaining P9.8 million worth of crop insurance premium subsidy was availed by farmers and fisherfolk enrolled under Negros First Universal Crop Insurance Program (NFUCIP) last year.

Jose Ma. Torres, head of PCIC-Negros Occidental Provincial Extension Office, said the reported amount of utilized premium subsidy only covered those availed through NFUCIP and RSBSA.

This means that farmers in different areas are also required to register and update their information on their respective Basic Sector in Agriculture.

More significantly, these insurances provided by PCIC are essential during state of calamities and drought.

Torres imparted that the national government is paying the PCIC for the insurance premium subsidy. “The fund is downloaded by the DBM”, he added. Hence, adding that premium is free as long as farmers and fisherfolk are included in the master list of RSBSA or enrolled in other insurance programs

Negros Occidental’s Agriculture Sector

Negros Occidental is the sugar capital of the Philippines. According to Economic Development of Negros Occidental, 54 percent of its agriculture land is being cultivated by sugar.

Sources: PCIC: 44,690 NegOcc farmers, fisherfolk avail P83-M insurance premium subsidy

Negros Occidental’s Economic Development

 

 

 


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Nath Mindanao

Level 2

An aspiring Agribusiness economist. I scribble more about agriculture, politics and economics.

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