The Philippine Crop Insurance Corporation (PCIC) has allocated an initial insurance payout of PHP571.3 million to help hasten the recovery of farmers affected by Super Typhoon Uwan and Typhoon Tino.
In a news release Tuesday, the Department of Agriculture (DA) said a report of PCIC head Jovy Bernabe to Secretary Francisco Tiu Laurel Jr. showed that as of Nov. 11, a total of 65,176 insured farmers across 14 regions in the country were affected by the two typhoons, with rice, corn, and other high-value crops recording the most losses.
“Initial assessments indicate losses of around PHP147.3 million for rice, PHP55.6 million for corn and PHP224.3 million for high-value crops,” the DA said.
The report also showed that Region 5 (Bicol), which includes severely hit Catanduanes, posted the highest number of claimants at 10,958, with potential payouts estimated at PHP119.4 million.
Bernabe said PCIC regional teams have been instructed to remain on the ground to assist affected farmers and help fast-track the processing of their claims to prevent cash-flow disruptions.
Total agricultural losses from the two typhoons have climbed to PHP4.13 billion.
This covers about 43,882 hectares of farmland, wiping out 19.2 million metric tons of production across crops, including coconut farms, livestock, poultry, fisheries, and agricultural facilities.
Tiu Laurel Jr. said the funding is part of President Ferdinand Marcos Jr.’s directive to provide urgent support to food producers reeling from consecutive climate shocks, helping them to recover swiftly.
He noted that expanding crop insurance coverage is becoming increasingly vital as extreme weather events intensify.
“Hopefully, more of our agricultural stakeholders can be covered by the PCIC so the sector can better cope with disasters,” Tiu Laurel said. (PNA)