The Duterte administration is mulling a 50-percent insurance subsidy for hog raisers amid the current problems of pork supply in the country.
Gov't officials propose giving hog raisers insurance subsidy to boost production
THE DUTERTE administration is considering offering a 50-percent insurance subsidy for hog raisers in a bid to solve the current problem of pork supply in the Philippines.
Cabinet Secretary Karlo Nograles said that the Department of Agriculture (DA) is ready to allocate funds from the agency's quick response fund (QRF) for the subsidies.
“One proposal being studied is an insurance subsidy of 50 percent for commercial hog raisers that utilize the quick response fund under the QRF of the Department of Agriculture. This is just one initiative being considered to help our hog farmers increase supply,” he said.
This came after several lawmakers have pushed to insure hog famers against the adverse effect of African swine fever (ASF) in the country.
Last January, Agriculture Secretary William Dar urged backyard and commercial hog raisers to avail of insurance packages to help them recover from the effects of ASF.
The DA’s Philippine Crop Insurance Corporation, the sole government agricultural insurance firm in the country, has also included ASF among the risks covered by its livestock insurance as early as 2019.
It grants insurance amounting to P10,000 per head of swine, on a premium payment of only 2.25 percent or P225, according to the statement posted by DA on its official website.
The insurance coverage is on top of the PHP5,000 worth of ASF indemnification claim for eligible beneficiaries. (ONT/With report from PNA)