The Agricultural and Agrarian Insurance Board has launched a new insurance scheme to provide coverage for coconut seedlings, aiming to safeguard cultivators against risks posed by natural disasters and wild elephants.
According to the Ministry of Agriculture, under the programme, a seedling insured for a premium of Rs. 40 will receive annual coverage of Rs. 550. For the maximum insured period of six years, cultivators can secure coverage worth Rs. 12,450 per seedling with a total premium of Rs. 875.
The scheme covers damages caused by drought, floods, heavy rainfall, strong winds, landslides, and elephant incursions, offering farmers protection against both seasonal and recurring threats.
Officials said the initiative is designed to help growers manage uncertainty and sustain the coconut industry without risk, ensuring long‑term stability for one of Sri Lanka’s key plantation sectors. (Newswire)
