Malaysia: Crop insurance to be introduced in 2017

EMBUN MAJID New Straits Times 26 oct 16;

PENDANG: The crop insurance aimed at protecting farmers in the event of natural disasters will be introduced by the end of next year.

Agriculture and Agro-Based Industry minister Datuk Seri Ahmad Shabery Cheek said the ministry is fine-tuning the insurance module and will table it to the Cabinet before introducing it to farmers.

He said, at the moment, the proposed insurance scheme is still being drafted and many factors need to be considered including feedback from the farmers and insurance companies, before it can be implemented.

Shabery said the crop insurance was first proposed to the ministry by Agro Bank to be included under the 2017 Budget.

However, there were many weaknesses to the draft which needed to be reviewed, he added.

“I have asked Agro Bank to look into the draft and the latest date that the ministry hopes to implement the insurance is end of next year,” he told reporters after presenting aid to farmers affected by natural disasters in Kedah and Perlis.

A total of 1,893 farmers affected by natural disasters in both states received a total of RM2.097 million cash aid this morning.

Shabery said the ministry would also get feedback from agriculture authorities including Muda Agriculture Development Authority (Mada) and state governments on the proposed insurance scheme to ensure better implementation.

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