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Agricultural insurance and farm risk management improves food security and producers’ sustainability

5 Jul 2022

Agricultural insurance plays a significant role in a holistic risk management system that includes maintaining farm health and safety. It ensures national food security through farm risk management and protects farmers from financial collapse. It plays an important role in reducing the vulnerability of national food systems to acute shocks, subsequently contributing to resilience and sustainability.

The APO Secretariat in collaboration with the Thailand Productivity Institute (FTPI), organized a Conference on Agricultural Insurance and Farm Risk Management, 15 June, to emphasize the importance of agricultural insurance for the resilience of farmers and communities in adverse circumstances and in adapting to new challenges like climate change or pandemics. In his welcome remarks, Dr. Athisarn Wayuparb, Executive Director, FTPI, highlighted the perspectives of farmers and food security, particularly in situations like the COVID-19 pandemic.

Forty-two participants from 12 member economies attended the conference, and sessions were conducted by three resource persons from India, Indonesia, and Switzerland. The resource persons discussed different forms of agricultural insurance and farm risk management and shared successful innovative practices for increasing productivity, employment, and value addition in food systems; protecting and enhancing natural resources; improving livelihoods and fostering inclusive economic growth; enhancing the resilience of people, communities, and ecosystems; and adapting governance to take on new challenges.

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