Philippine farmers in Bicol receive P24.4 million in insurance payments after storm damage
inquirer.net — November 6, 2024, 04:01 PM UTC
The Philippine Crop Insurance Corp. has distributed P24.4 million in insurance payments to 2,644 farmers in the Bicol region affected by Severe Tropical Storm Kristine. This assistance comes as farmers continue to recover from the storm's impact. The PCIC is processing additional claims, with total estimated payments expected to reach P666.5 million. The storm has affected over 86,000 farmers across multiple regions, causing significant damage to crops and agricultural infrastructure. The Department of Agriculture is also providing support, including seeds and fertilizers. Recent assessments indicate that the storm caused P6.20 billion in agricultural losses, particularly impacting rice production.