Guyana Launches Landmark Premium-Free Crop Insurance for Rice Farmers

• In a groundbreaking move to protect farmers from climate-induced losses, Guyana President Dr. Irfaan Ali on Tuesday launched a premium-free crop insurance programme for rice farmers, hailing it as a historic step toward climate resilience and agricultural modernisation.
• The initiative — a collaboration between the Government of Guyana, Indian agrochemical giant United Phosphorus Limited (UPL), and Philip Morris International — will provide approximately 6,000 rice farmers with free insurance coverage against extreme weather events such as flooding and drought. Farmers will not be required to pay any premiums, making the programme the first of its kind in the Caribbean region
• The new insurance scheme forms part of a broader national strategy to boost food security, improve access to credit, and promote climate-smart farming practices. President Ali urged commercial banks to adjust their lending frameworks now that farmers have insurance backing.
• As part of the rollout, the government also announced a pilot rice farming system that will incorporate modern technology and advanced tools to boost productivity and climate resilience.
• Minister of Agriculture Zulfikar Mustapha described the programme as a “transformative moment” for the sector. “From now, you will be covered by this product so that you can be compensated when these things happen,” he said, referencing past difficulties accessing agricultural insurance in Guyana. “We are the first country in the entire region that is launching a product to cover our rice farmers,” Mustapha added. “This is not just about risk reduction. It is about empowerment.”
• With rice remaining a cornerstone of Guyana’s agricultural exports, the government hopes the programme will eventually be expanded nationwide and serve as a model for climate-resilient farming throughout the Caribbean.

(Source: Caribbean News Weekly)