Guatemala mulls crop insurance for farmers

Guatemala's government is studying the possibility of offering crop insurance to provide farmers with protection against extreme weather conditions.

Wednesday, June 4, 2008

The project has been discussed at Cabinet level. Every year farmers in Guatemala report heavy losses caused by drought or flooding.

More on this topic

Costa Rica Subsidizes Crop Insurance

May 2009

The government will subsidize between 30% and 60% of the total cost of insurance premiums for crop losses due to bad weather.

Rice, beans, corn, potatoes, onions, bananas and tropical roots (cassava, cocoyam, yam and taro) are the crops that will benefit.

Agriculture Minister Javier Flores informed Nacion.com: "We are already working with the INS, the Treasury Department and international agencies on a parametric insurance system based on historical rainfall rates and weather conditions. These premiums would be much more accessible for producers."

$28 Million Losses in Salvadoran Plantations

October 2009

Lack of rain has reduced yield at corn, bean and sorghum plantations.

The most affected seed is corn, with $21.5 million losses, reported the Agriculture Ministry (Mag).

"The ministry's report summarizes other preliminary studies presented in the past weeks. From an economic loss perspective, bean is second after corn, with losses over $3 million.

Losses of $ 78 Million in Guatemalan Agriculture

January 2011

Climate problems in 2010 left $ 78.3 million in losses.

Data from the Ministry of Agriculture, Livestock and Food reported damage to 80.262 hectares of crops and 567 hectares of forest.

"Out of the total losses, $ 65 million were crops, $ 7.8 million in destruction of irrigation infrastructure, $ 3.2 million in the livestock sector, $ 760,000 in forestry and $ 1.5 million in hydro-biological," reports Prensalibre.com.

Multi-million Dollar Losses in Guatemalan Agriculture

September 2010

The Ministry of Agriculture forecasts $3.2 million worth of losses, mainly in crops of white corn.

The heavy rains that have been falling since 28 August have flattened 4,852 hectares of corn, which represents a loss of $2.6 million.

The Minister for Agriculture, Juan Alfonso De León, explained that while around 300,000 hundred weight of grain will no longer enter the market due to the rain, production is still expected to exceed 29 million sacks in the current harvest, according to Prensalibre.com. "We do not expect to have to resort to an import contingency plan," he said.

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Grupo Fama - Metagro

METAGRO is a Guatemalan based manufacturer that provides high end solutions of agricultural transport equipment, we are focused on helping customers be more productive as they help to improve the quality of life for people around the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (502) 2383 2720 - (502) 5595 9953

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