AIC to offer insurance cover for tea, spices
Agriculture Insurance Corporation of India (AIC) - the nodal agency for offering agriculture insurance - is set to offer crop insurance schemes announced in the Budget within the next three-four months.
By Debjoy Sengupta & Sutanuka Ghosal, TNN |
KOLKATA: Agriculture Insurance Corporation of India (AIC) ��� the nodal agency for offering agriculture insurance ��� is set to offer crop insurance schemes announced in the Budget within the next three-four months, long before the FM���s deadline of March 2009.
In fact, the AIC is already working on offering covers for tea growers as well as spices, including chilli, ginger, turmeric, pepper and cardamom. It has recently started offering insurance for coffee and rubber.
Talking to ET, AIC chairman and managing director M Parshad said: ���The Agriculture Insurance Co of India is already working on developing crop insurance for spices, including chilli, ginger, turmeric, pepper and cardamom as well as tobacco. We are in a position to introduce these covers over the next three
four months.���
Elaborating further, Mr Prashad said: ���We are in touch with the Spices Board as well as horticulture departments of different states and farmers. AIC is in the process of collating data including crop yield, weather and crop loss from different states for covering spices. We will design the products on the basis of feedback from states, farmers and research institutes. We are now engaged in talks with Tobacco Research Institute as well as Agriculture Research Institute.���
When contacted, senior officials of commerce ministry said: ���Preliminary work has already been done by the respective plantation boards. They have also held discussions with the AIC. The Budget says that the crop insurance scheme will be launched in 2008-09. We have nearly one month to finalise schemes.���
���AIC is also working on offering covers for tea and is in touch with the Tea Board as well as different research institutes under Tea Research Association. It will be launched in the next couple of months. We have already launched covers for rubber and coffee which is mainly grown in the South,��� he said.
Incidentally, tea is produced by states like Assam, West Bengal and Tamil Nadu. When contacted, senior officials of Tea Board: ���We are already working on the proposal. It will be ready soon.���
In fact, the AIC is already working on offering covers for tea growers as well as spices, including chilli, ginger, turmeric, pepper and cardamom. It has recently started offering insurance for coffee and rubber.
Talking to ET, AIC chairman and managing director M Parshad said: ���The Agriculture Insurance Co of India is already working on developing crop insurance for spices, including chilli, ginger, turmeric, pepper and cardamom as well as tobacco. We are in a position to introduce these covers over the next three
four months.���
Elaborating further, Mr Prashad said: ���We are in touch with the Spices Board as well as horticulture departments of different states and farmers. AIC is in the process of collating data including crop yield, weather and crop loss from different states for covering spices. We will design the products on the basis of feedback from states, farmers and research institutes. We are now engaged in talks with Tobacco Research Institute as well as Agriculture Research Institute.���
When contacted, senior officials of commerce ministry said: ���Preliminary work has already been done by the respective plantation boards. They have also held discussions with the AIC. The Budget says that the crop insurance scheme will be launched in 2008-09. We have nearly one month to finalise schemes.���
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Bulk of the supply of cardamom comes from Sikkim, West Bengal Tamil Nadu, Kerala and Karnataka while chilli is grown in almost all states. Some of the major ginger producing states are Andhra Pradesh, Arunachal Pradesh, Assam, Gujarat, Himachal Pradesh, Karnataka, and Kerala while bulk of the nation���s demand for ginger is met by Andhra Pradesh, Arunachal Pradesh, Assam, Gujarat. Turmeric is grown in Andhra Pradesh, Gujarat, Himachal Pradesh and Karnataka.���AIC is also working on offering covers for tea and is in touch with the Tea Board as well as different research institutes under Tea Research Association. It will be launched in the next couple of months. We have already launched covers for rubber and coffee which is mainly grown in the South,��� he said.
Incidentally, tea is produced by states like Assam, West Bengal and Tamil Nadu. When contacted, senior officials of Tea Board: ���We are already working on the proposal. It will be ready soon.���
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