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China: Red bean policy sales will end with a coverage rate of 5% Pingtung Agricultural Office

Dried Adzuki Bean
China
Published Oct 15, 2022

Tridge summary

Pingtung County, the main producing area of red bean, launched the red bean insurance policy for the first time this year. The sales will end on the 15th. According to the return data of various farmers' associations, as of October 11, the number of insured cases was 337, and the insured area was 227 hectares. The insurance rate was 5%. The county agricultural department said that the deadline for insurance application is the 15th, so the insured area of the red bean insurance policy should increase further. The first year sales have achieved an insurance rate of 5%, which is already a good performance. The biggest key for farmers to wait and see is still the premium. The subsidy must be paid in full first, and the subsidy will be refunded to the farmers after the underwriting. Pingtung is the main production area for red beans in the country in winter, and the output accounts for three-quarters of the country. The Pingtung County government leads the development and In cooperation with the Agricultural Finance Bureau of the Agricultural Committee and Fubon Property Insurance Company, the company launched the precipitation parameter red bean crop insurance, which is based on rainfall. Because red beans are most afraid of flooding during the growth period, the threshold for claim settlement is divided into Type A and Type B according to the amount of precipitation. 2 types, during the insurance period from October 1st to January 31st of the following year, the insurance premium is 5,480 yuan per hectare for Type A where the daily accumulated precipitation is over 60.5 mm; Type B for which the daily accumulated precipitation is over 50.5 mm. , the premium per hectare is 8,196 yuan. The Agricultural Committee provides 50% of the premium subsidy for the insured farmers, and the Pingtung County Government provides 25%, so farmers only need to pay 25% of the premium. After deducting the subsidy, farmers actually only need to pay 1,370 yuan, which is 137 yuan for 1 cent of land insurance.

Original content

Pingtung County, the main producing area of red bean, launched the red bean insurance policy for the first time this year. The sales will end on the 15th. According to the return data of various farmers' associations, as of October 11, the number of insured cases was 337, and the insured area was 227 hectares. The insurance rate was 5%. The county agricultural department said that the deadline for insurance application is the 15th, so the insured area of the red bean insurance policy should increase further. The first year sales have achieved an insurance rate of 5%, which is already a good performance. The biggest key for farmers to wait and see is still the premium. The subsidy must be paid in full first, and the subsidy will be returned to the farmer after underwriting. Pingtung is the most important production area for red beans in the country in winter, and the output accounts for three-quarters of the country. Red bean crop insurance is based on rainfall, because red beans ...
Source: Agriharvest
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