Myanma Insurance has paid out 15 billion kyats in insurance compensation based on the rainfall figures issued by the Department of Meteorology and Hydrology from January to December in 2024.
For weather index crop insurance, compensation is paid if the rainfall falls below the specified rainfall index as drought occurs in the upper part of Myanmar, and compensation is paid if the rainfall exceeds the specified rainfall index as heavy rain occurs in the lower part of Myanmar. Similarly, for winter crops, compensation is paid if the rainfall exceeds the specified rainfall index, and compensation is also being paid if the monsoon crops are damaged by floods due to various reasons.
Myanma Insurance has insured over 400,000 farmers in over 2 million acres of monsoon paddy under weather index crop insurance, with the Ayeyawady and Bago regions having the highest number of insured farmers.
Insurance fees for vacant, fallow and virgin lands adjusted
The Central Committee for the Management of Vacant, Fallow and...
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