Insurance Scheme Introduced for Coconut Cultivations

COLOMBO (News 1st); The Agricultural and Agrarian Insurance Board has introduced an insurance mechanism for coconut seedlings cultivated by farmers.

The initiative aims to provide continuous supervision and protection of coconut seedlings supplied under subsidy schemes for new plantations, replanting, and intercropping, for a period of up to five years.

Under this scheme, the insurance period will range from 15 days to one year. The premium is set at Rs. 67.50 per seedling, while the insurance coverage amounts to Rs. 550 per seedling.

The program is being jointly implemented by the Coconut Cultivation Board and the Agricultural and Agrarian Insurance Board.

The insurance coverage will protect coconut plantations against drought, floods, heavy rainfall, cyclones, landslides, wild elephant damage, other damages caused by wild animals, lightning, and pest infestations.

Meanwhile, the main program in the Galle District to mark World Coconut Day was held yesterday in Induruwa, under the patronage of Nishantha Perera, Member of Parliament representing the National People’s Power.

The event also included awareness programs for farmers on addressing the challenges faced in coconut cultivation.