Information

Coconut cultivation is subjected to risks from climatic changes, natural disasters, pests, diseases etc. and, at times, entire coconut cultivation of a region, gets wiped out due to natural calamity or onset of pest attack. Coconut is a perennial crop and losses suffered by farmers due to damage of this crop, are material and needs to be addressed. Moreover, coconut is cultivated under rain-fed management and is susceptible to biotic and abiotic stresses, it is necessary to minimise risk faced by coconut farmers, predominantly small and marginal, by covering coconut palms with an insurance scheme.Coconut palms are perennial crops, but palm trees are characterized by periodic system of crop setting and outcomes and hence resemble seasonal annual crops and should, accordingly, eligible for insurance cover.

Objective of Scheme

The purpose of the scheme is to:

1.Help stabilise the income for the coconut growers, especially during the disastrous years.

2.Extend financial assistance to the coconut growers in insuring their coconut palms against the natural and climatic disasters

3.Ensure risk minimisation

4.Encourage coconut palm replanting among the farmers

5.Restore coconut farming