AGRICULTURE NEWS - There is cautious optimism that a government-subsidised crop insurance scheme will materialise in the near future, according to Jannie de Villiers, CEO of Grain SA.
De Villiers said that the South African Insurance Association, the representative body of the short-term insurance industry, had already provided Treasury with a comprehensive plan for subsidised crop insurance.
“We’re now waiting on Treasury [to hear what] the amount [is] that will be budgeted, should the plan be accepted. It’s [vital] that the subsidisation is market-related in order to make it possible for farmers to obtain insurance in times of need, such as drought,” he said.
The idea of a state-subsidised insurance scheme had so far been widely accepted by all role players in the agricultural value chain, as well as government, he said.
Read the full article here on the Caxton publication, Farmer's Weekly.
