Kristine-hit Bicol farmers get P24.4 million in crop insurance payments
Search and rescue operations in Zone 6, Libon, Albay on October 23, 2024 during the height of Severe Tropical Storm Kristine. (File photo from the official Facebook page of Coast Guard District Bicol)
MANILA, Philippines — Thousands of Bicol farmers affected by Severe Tropical Storm Kristine (International name: Trami) received an initial amount of P24.4 million in crop insurance payments, according to the Department of Agriculture (DA) on Wednesday.
The Philippine Crop Insurance Corporation (PCIC) issued indemnification checks to 2,644 farmers in Albay, Camarines Norte, Camarines Sur, Catanduanes, Masbate and Sorsogon.
PCIC President Jovy Bernabe said the indemnities were meant to “help farmers recover from setbacks and continue to contribute to the country’s food security and economic growth.”
Agriculture Secretary Francisco Tiu Laurel Jr. distributed the checks during President Ferdinand Marcos Jr.’s visit to calamity victims in Camarines Sur on Wednesday.
Tiu Laurel called on the PCIC to expedite the release of the crop insurance payments.
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“We need to equip our farmers and fisherfolk with financial resources to help them quickly get back on their feet, to recover from this disaster brought about by climate change,” he said.
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Bernabe said the total crop insurance payments can run up to at least P666.5 million, based on the agency’s initial assessment.
Additionally, the DA is providing P541.02 million in inputs like seeds and fertilizers to aid recovery, its Disaster Risk Reduction and Management Operations Center said on Monday.
Based on the National Disaster Risk Reduction and Management Council’s situational report on Tuesday, the combined effects of Kristine and Super Typhoon Leon (International name: Kong-rey) brought P4.8 billion worth of damage to the agricultural sector.
Of this tally, Bicol Region’s farmers and fishers suffered losses worth about P2.9 billion.