Trading

MAFI confident insurance scheme for agriculture industry will be realised soon

— The Ministry of Agriculture and Food Industries (MAFI) is confident that its suggestion of an insurance scheme for agriculture and agrofood industry players will be realised soon, thanks to the assistance from insurance companies in the country.

Its minister, Datuk Seri Dr Ronald Kiandee said the insurance policy model was being developed by Bank Pertanian Malaysia Berhad (Agrobank) in collaboration with insurance providers.

“I feel that we (MAFI) will soon be presented with policy models that can be created with the assistance of insurance industry players,” he told a media conference after an aid presentation ceremony here today.

In his speech, Ronald said the implementation of the insurance scheme would be in line with the government’s intent to industrialise the agriculture and agrofood sectors in the country, especially the paddy industry through the Large-Scale Smart Field (Smart SBB) programme.

He said the programme aimed to optimise the use of resources, as well as increase the efficiency of paddy planting and yields, adding that the ministry has targeted a national increase in average yield from 3.5 metric tonnes per hectare to seven metric tonnes per hectare during the 12th Malaysia Plan (RMK12).

“In the long term, the SMART SBB programme is expected to help the country achieve the self-sufficiency level for paddy set under the RMK12, which is 75 per cent,” he said.

Regarding the aid presentation, Ronald said the ministry approved RM2.19 million in allocation through the disaster fund to 1,009 farmers encompassing 1,278 hectares in the Muda region who were affected by floods in the state in September and October last year.

Source: BERNAMA News Agency

Latest News