The Department of Agriculture (DA) is preparing a $70-million insurance fund, with support from the World Bank, to protect at least 750,000 farmers nationwide from calamities and other risks.
Agriculture Secretary Francisco Tiu Laurel Jr. said the “agri-insurance pool” program, planned as a four-year initiative, aims to start in the first half of 2026 and is pending approval from the Department of Economy, Planning, and Development.
The program will cover crops like rice, tomatoes, eggplant, and ginger, as well as livestock such as chickens and pigs, with coverage amounts ranging from P50,000 to P70,000 per hectare.
Major insurance firms have expressed strong interest in the initiative, which also includes a grant component to benefit farmers, aquaculture, and fisherfolk.
The program comes amid a 5.7 percent growth in the country’s agricultural output in the second quarter, signaling recovery in the sector after previous declines.
Source: PhilNews24 | August 29, 2025
