Agric in­sur­ance can as­sist African small­hold­ers’ farm­ers

Daily Trust - - AGRICULTURE - By Vin­cent A. Yusuf

The im­por­tance of agri­cul­tural in­sur­ance will be a side-event dur­ing the next Com­mit­tee on Food Se­cu­rity meet­ing at the Food and Agri­cul­tural Or­gan­isat­tion (FAO) of the United Na­tion’s head­quar­ters in Rome, Italy on Oc­to­ber 13, 2015.

Or­gan­ised by the FARM Foun­da­tion- an agric or­gan­i­sa­tion based in France, the theme of the event which is: “En­hanc­ing food se­cu­rity through agri­cul­ture in­sur­ance, a con­crete tool for the fu­ture of African farm­ers” is ex­pected to chart the way for­ward on pro­vid­ing cover for small holder farm­ers in Africa.

Ac­cord­ing to FARM, agri­cul­ture in­sur­ance can as­sist in re­duc­ing poverty and mak­ing a dif­fer­ence in food se­cu­rity.

This tool is pro­jected to be even more im­por­tant in the fu­ture with the ris­ing like­li­hood of se­vere cli­mate haz­ards. In­sur­ance pro­tects farm­ers from cli­mate-re­lated crop and live­stock losses, thereby help­ing in sta­bi­liz­ing and in­creas­ing their in­come.

The or­gan­i­sa­tion opines that agri­cul­tural in­sur­ance makes it eas­ier to ob­tain credit for in­vest­ing in their farm, thus boost­ing yields and in­creas­ing the quan­ti­ties that can be sold on the mar­ket.

Pan­elists will high­light the ob­sta­cles that stand in the way of the de­vel­op­ment of agri­cul­tural in­sur­ance in Africa and sug­gest so­lu­tions to pro­vide all farm­ers the pro­tec­tion they de­serve.

Over 90% of farm­ers in Nige­ria do not have in­sur­ance cover as such suf­fer greatly when­ever they ex­pe­ri­ence flood or any nat­u­ral dis­as­ter.

Farm­ers in Nasarawa, Kaduna, Kebbi, and other states suf­fered se­vere losses due to flood oc­ca­sioned by re­lease of wa­ter from the dam in Cameroon, with some record­ing to­tal de­struc­tion of their crops.

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