DA seeks to nearly double insurance subsidy for farmers

The Department of Agriculture (DA) is asking Congress to raise the government's crop insurance subsidy to P8 billion to provide coverage for up to 4.2 million agricultural workers, aiming to shield them from climate risks and rising production costs.

- By ALDEN MONZON

In a statement yesterday, the DA said only 2.3 million farmers are currently insured under the Philippine Crop Insurance Corp. (PCIC), which represents just over half of the country's agricultural workforce.

Further, the government agency said the PCIC provides a maximum coverage of P20,000 per hectare for rice farmers, only a third of the estimated average production cost of P60,000 per hectare.

"PCIC's current subsidy level is simply inadequate," said Agriculture Secretary Francisco Tiu Laurel Jr.