Filipino farmers have received an initial insurance payout of around PHP571.3m (US?$9.67?m) from the country's Crop Insurance Corporation to accelerate recovery from the effects of recent storms, Fung-wong and Kalmaegi.
Data from Manila’s Department of Agriculture (DA) showed that as of 11 November, a total of 65,176 insured farmers across 14 regions were affected by the two typhoons, with rice, corn and other high-value crops suffering the greatest losses.
“Initial assessments indicate losses of around PHP147.3m for rice, PHP55.6m for corn and PHP224.3m for high-value crops,” the DA said.
The report also showed that Region 5 (Bicol), which includes the heavily affected Catanduanes, recorded the highest number of claimants at 10,958, with expected payouts reaching PHP119.4m.
Overall losses from the storms have now reached PHP4.13 bn, affecting some 43,882 hectares of farmland and wiping out an estimated 19.2m metric tons of crop production.