MANILA—The Philippine Crop Insurance Corp. (PCIC), the government’s agricultural insurance provider, is earmarking some P622 million to compensate losses suffered by insured farmers in Luzon in the wake of the successive onslaught of Typhoon Karen and Supertyphoon Lawin over the last two weeks.

In a report to Agriculture Secretary Emmanuel F. Piñol, PCIC President Jovy Bernabe said rice accounted for 85.78 percent, or P533.26 million of the indemnity allocation; corn, 1.86 percent, or P11.55 million; and high-value crops (HVC), 12.36 percent, or  P76.82 million.

The rice sector suffered the most, accounting for about 77 percent of the total number of farmers and size of farms affected.

Corn accounted for about 15 percent of farmers and 13 percent of farms, while HVC accounted for over 7 percent of farmers and around 9 percent of the farms.

Bernabe reported that a quick assessment of the post-typhoon situation showed that 103,338 hectares operated by 81,700 farmers were damaged.

Region II suffered the most damage in peso terms at P198.81 million, followed by Central Luzon (Region III), P154.35 million; and Ilocos region (Region I), P90.82 million.

The Cordillera Administrative Region suffered damages amounting to around P58.18 million.

Piñol has directed the PCIC to assist the affected farmers and hasten the processing of damage claims in less than the 20-day regulation period.

Karen lashed the country on October 15 and 16, while Lawin, which was the most destructive typhoon to occur this year, struck October 19 and 20.

The weather disturbances affected farms in the entire Luzon region.

 

Business Mirror – October 28, 2016

(http://www.businessmirror.com.ph/insured-farmers-to-get-p622-million-for-losses-in-past-two-typhoons/)

By: Philippine News Agency