The Philippine Crop Insurance Corporation (PCIC) has set aside P110 million to settle the claims of rice and corn farmers affected by the Habagat and Typhoon Maring.
The PCIC, an attached agency of the Department of Agriculture, said Monday that the insurance claims will be paid out 20 days after their filing.
In its report to the department, the PCIC said that 25,971 hectares of rice and corn crops of insured farms in the Cordillera Administrative Region and Regions I, III and IV tilled by 20,382 farmers have been damaged by the rains and floods. The value of loss has been estimated at P109 million.
The hardest hit region was Region III, where 13,850 farmers were affected, with P61 million worth of losses over 18,912 hectares.
Pampanga was hardest hit province, with 5,241 insured rice farmers reporting P22.527 million in production losses over 7,335 hectares. — BM, GMA News