Introduction to banana income insurance trial and insurance premium subsidy measures in China

Published 2023년 7월 10일

Tridge summary

In Taiwan, the agricultural industry, specifically banana farming, is facing increasing risks due to climate change and market fluctuations. To address these challenges, banana income insurance was launched in 2011 to protect farmers from income loss caused by natural disasters and price drops. The insurance covers the difference between the guaranteed income and the actual income, and the coverage ranges from NT$150,000 to NT$700,000, depending on the region and production conditions. In 2019, the Agricultural Insurance Law was enacted, providing clear legal status for agricultural insurance and formalizing its coverage and subsidy measures.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In recent years, climate change has intensified, and agricultural production risks have increased. Bananas are one of the main fruits in Taiwan. In addition to natural disasters and accidents, banana farmers face risks. In the year of abundant production, the price is easily affected by market supply and demand. Take the 111th year of the Republic of China as an example. At the beginning of the year, the price of green bananas was about NT$50 per kilogram, but in the second half of the year, the price dropped sharply, which affected the income of banana farmers. Banana income insurance (hereinafter referred to as this insurance) was launched in 2011 to cover the low income of bananas caused by natural risks and price risks, including the reduction of production due to natural disasters and irresistible factors and the reduction of income caused by price drops, and stipulated The "Banana Income Insurance Trial and Insurance Premium Subsidy Measures" (hereinafter referred to as the ...

Source: Agriharvest