Rice crop insurance – A financial shield for rice farmers

The Mekong Delta is considered the "rice heart" of Vietnam, contributing over 50% of the rice output and more than 90% of the rice exports. However, this region is also the most severely affected by climate change, frequently facing drought, saltwater intrusion, storms, landslides, and diseases. With production heavily dependent on nature, rice farmers still "gamble" with the weather each season. In this context, rice crop damage insurance is seen as a "financial shield" that helps farmers reduce losses, stabilize income, and protect the production capital. At the recent seminar "Challenges and Solutions for Rice Crop Damage Insurance in the Mekong Delta" organized by Agribank Insurance in collaboration with the Department of Cooperatives and Rural Development - Ministry of Agriculture and Rural Development, An Giang Department of Agriculture and Rural Development, An Giang Agribank, and GIZ, delegates agreed that agricultural insurance has not truly become part of daily life. The ...