Saint Lucian farmers will benefit from an innovative insurance program initially designed to support banana and plantain producers, with plans to extend coverage to the entire agricultural industry in the future.
On July 18, the Ministry of Agriculture will officially launch this important program, following extensive discussions about its potential impact.
Agriculture Minister Alfred Prospere emphasized that this development marks a significant advancement in the agricultural sector. He stated that this initiative takes a proactive stance toward addressing long-standing challenges.
“We are currently in hurricane season, and natural disasters can strike our farmers at any moment. Banana and plantain farmers are particularly vulnerable; strong winds can easily devastate their crops,” Minister Prospere pointed out during a pre-Cabinet press briefing.
Agricultural officials expect this initiative to significantly enhance capacity, productivity, and resilience within the agricultural sector, which faces increasing threats from natural disasters and industry shocks.
Minister Prospere views this insurance scheme as a timely and essential measure to aid farmers in mitigating damages from setbacks such as disease outbreaks—including Black Sigatoka—export delays due to box shortages, and severe storm damage.
Highlighting the urgency, Prospere recalled last year’s government assistance to farmers for a serious Black Sigatoka issue, followed by another intervention when box shortages impacted banana exports.
Recently, after the devastation caused by Tropical Storm Bret in June 2023, the government provided financial support once again. This new insurance scheme is set to alleviate financial pressure on public funds.
“The launch of an insurance scheme for farmers will reduce the need for the government to allocate financial resources for recovery efforts,” asserted Minister Prospere.
He added that in the event of another major natural disaster, farmers will be covered and able to receive compensation through their insurance.
Due to financial constraints, the scheme will initially be available exclusively to banana and plantain farmers. Minister Prospere explained that while EC$1 million has been earmarked for this sector, the funding is insufficient to cover the entire agricultural industry, including vegetable and livestock farmers.
“Given that banana and plantain farmers are the most vulnerable, we are starting with them,” he stated.
The government expects this pilot phase to pave the way for broader coverage in the future, but the long-term success and expansion of the insurance scheme will hinge on collective responsibility.
Minister Prospere emphasized the importance of future program expansion through contributions from all major stakeholders involved in the insurance scheme.
“We expect farmers and stakeholders to step up and contribute so we can expand the program effectively,” he stated.
Agriculture personnel view this initiative as a critical step toward safeguarding Saint Lucia’s food security and strengthening its agricultural economy.
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