AIC to offer insurance cover for tea, spices

KOLKATA:
Agriculture Insurance Corporation of Republic Of India (AIC) â€" the nodal federal agency for
offering agribusiness coverage â€" is put to offer harvest coverage schemes
announced in the Budget within the adjacent three-four months, long before the
FM’s deadline of March
2009. In fact, the AIC is
already working on offering covers for tea agriculturists as well as spices, including
chilli, ginger, turmeric, common pepper and cardamom. It have recently started offering
insurance for java and
rubber. Talking to ET, AIC
chairman and managing manager Meter Parshad said: “The Agribusiness Insurance
Co of Republic Of India is already working on developing harvest coverage for spices,
including chilli, ginger, turmeric, common pepper and cardamon as well as tobacco. We
are in a place to present these screens over the adjacent three four
months.” Elaborating
further, Mister Prashad said: “We are in touching with the Spices Board as well
as gardening sections of different states and farmers. AIC is in the
process of collating information including harvest yield, weather condition and harvest loss from
different states for covering spices. We will plan the merchandises on the basis
of feedback from states, husbandmen and research institutes. We are now engaged in
talks with Tobacco Research Institute as well as Agribusiness Research
Institute.” When
contacted, senior functionaries of commercialism ministry said: “Preliminary work
has already been done by the several plantation boards. They have got also held
discussions with the AIC. The Budget states that the harvest coverage strategy will be
launched in 2008-09. We have got nearly one calendar month to finalise
schemes.” Majority of the
supply of cardamon come ups from Sikkim, Occident Bengal Tamil Nadu, Kerala and
Karnataka while chili is grown in almost all states. Some of the major ginger
producing states are Andhra Pradesh, Arunachal Pradesh, Assam, Gujarat, Himachal
Pradesh, Karnataka, and Kerala while majority of the nation’s demand for
ginger is met by Andhra Pradesh, Arunachal Pradesh, Assam, Gujarat. Turmeric is
grown in Andhra Pradesh, Gujarat, Himachal Pradesh and
Karnataka. “AIC is also
working on offering covers for tea and is in touching with the Tea Board as well as
different research institutes under Tea Research Association. It will be
launched in the adjacent couple of months. We have got already launched screens for
rubber and java which is mainly grown in the South,” helium said. Incidentally, tea is produced
by states like Assam, Occident Bengal and Tamil Nadu. When contacted, senior
officials of Tea Board: “We are already working on the proposal. It will
be ready soon.”