Motivation

Sri Lanka Launches New Insurance Scheme for Seed Paddy Farmers

Sri Lanka’s Agricultural and Agrarian Insurance Board has introduced a new insurance scheme designed to protect seed paddy producers from major cultivation risks.

The initiative was developed in response to repeated requests from farmers seeking greater security against climate- and wildlife-related threats. Under the scheme, farmers can insure their seed paddy production for a premium of Rs. 13,600 per acre per season, receiving compensation of up to Rs. 180,000 per acre for losses caused by floods, droughts, pest infestations, natural disasters, or wild elephant incursions.

To qualify for coverage, seed paddy farms must be officially registered with the Department of Agriculture’s Seed Certification Service (SCS).

Officials say the program aims to strengthen seed paddy production and ensure farmers remain engaged in cultivation despite rising environmental challenges.

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10 months ago

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