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Partnership To Benefit Dairy Farmers

Partnership To Benefit Dairy Farmers
From left: Australian High Commission Private Sector Development and Economic Growth programme manager Thompson Yuen, Pacific Financial Inclusion Programme (PFIP), Regional Inclusive Insurance Specialist Michael Carr, PFIP Financial Inclusion Specialist (Fiji) Praneel Pritesh, PFIP Deputy Programme Manager Krishnan Narasimhan, Fiji Co-operative Dairy Company Limited (FCDCL) chief executive officer Sachida Nand, FCDCL Farm Services Manager Maciu Raikoso and FCDCL Manager Financial and Administration Kushmendra Prasad at the FCDCL Headquarters in Manoca, Nausori, on October 5, 2017. Photo: Maraia Vula
October 07
10:15 2017

Dairy farmers in Tailevu North and the Rewa Delta have a reason to smile as they will soon be introduced to a micro-insurance package.

The Fiji Co-operative Dairy Com­pany Limited (FCDCL) has formed a partnership with the Pacific Financial Inclusion Programme (PFIP).

This would enable mutual field research on the possibilities and demand for a specialised micro-in­surance package for dairy farmers under FCDCL.

There are 252 dairy farmers un­der FCDCL, 192 are active share­holders of the company that was established in 2012 to look after the interests of dairy farmers in Fiji.

FCDCL chief executive officer, Sachida Nand, and the PFIP acting programme manager, Krishnan Narasimhan signed the Letter of Engagement at the FCDCL head­quarters in Manoca, Nausori, on Thursday.

“The findings of the research will form the basis for developing the specialised insurance product and will be piloted with dairy farmers under FCDCL,” said Mr Nand.

Mr Narasimhan said: “After the survey is completed, PFIP will work with interested insurance companies to prototype an insur­ance product that is both acces­sible and affordable for farmers, we hope to support launch a pilot product soon.

“The survey is the first initia­tive of PFIP supported under the United Nations Development Pro­gramme’s Regional Disaster Resil­ience in the Pacific Small Island Developing States (RESPAC) work to develop affordable insurance protection to secure livelihoods and assets for Pacific Islanders.”

Mr Nand said that the field re­search has started and will include interviews and meetings with a sample segment of dairy farmers under FCDCL.

PFIP is providing technical as­sistance working with insurance companies to provide farmers with access to appropriate or affordable insurance products.

“It will cover farmers in the Bu­rebasaga, Naluwai, Navua, Viria, Muaniweni, Waidawara and Wai­dalice areas,” Mr Nand said.

About livestock insurance

Mr Narasimhan, said that many livestock farmers are low-income earners with nominal income, making them vulnerable to eco­nomic shocks and catastrophes like natural disasters.

“Livestock insurance is new to the Pacific and there are no service providers offering this product.

“Our research under the Inclusive Insurance Innovation Lab will look at necessary data and information required for product development, pricing, and a range of risk covers that dairy farmers require to miti­gate against disasters and other events, awareness etc,” said Mr Narasimhan.

“PFIP will be exploring the de­mand for livestock indemnity in­surance products for high value livestock that are primarily fi­nanced by credit and are owned by smallholder farmers, who produce milk for supply to FCDCL.”

The project is being funded by UNDP, United Nations Capital De­velopment Fund (UNCDF), Depart­ment of Foreign Affairs and Trade (DFAT)/Australian Government), European Union (EU), and Minis­try of Foreign Affairs and Trade (MFAT)/New Zealand Govern­ment

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