Crop insurance coverage targeted for expansion to 4.2 million farmers in 2026 – BusinessWorld Online
THE Department of Agriculture said it requested P8 billion in funding to expand the Philippine Crop Insurance Corp.’s coverage to 4.2 million farmers from the current 2.3 million.
In a statement, Agriculture Secretary Francisco P. Tiu Laurel, Jr., also cited the need to raise the coverage per hectare to P60,000 from P20,000 to better reflect actual production costs, which he estimated at P60,000.
Mr. Laurel said climate change and low prices are threatening rice yields and livelihoods.
“When typhoons, droughts, or pest outbreaks hit, insured farmers can recover faster and get back to planting. Without it, many are left in debt or forced to abandon farming altogether,” Mr. Laurel added. — Andre Christopher H. Alampay
