JERLUN, March 7 (Bernama) -- A total of 10,726 paddy farmers nationwide have received overall compensation totalling RM24.6 million under the Paddy Crop Takaful Scheme (STTP) from 2024 until today.
Agrobank Group president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said the STTP, introduced in September 2024, is a takaful scheme drawn up specifically to provide financial assistance to registered paddy farmers who experienced damage or permanent loss of their paddy crops due to natural disasters, pest attacks and crop diseases
"This scheme provides protection of up to RM3,000 per hectare for each planting season for losses caused by natural disasters. Meanwhile, for losses due to pest attacks and crop diseases, the protection offered is up to RM1,500 per hectare per season.
"This scheme not only provides financial protection to farmers, but also helps increase their resilience in facing unforeseen risks that can affect their source of income,” he told the media here today.
Earlier, he attended the STTP contribution presentation ceremony and a meeting with farmer leaders in the Muda Agricultural Development Authority (MADA) area, which was officiated by the Minister of Agriculture and Food Security, Datuk Seri Mohamad Sabu.
At the event, four farmers from Kedah and six from Perlis received STTP contributions totalling over RM507,000.
Tengku Ahmad Badli Shah said they are encouraging farmers to complete their registration process through the Area Farmers’ Organisation (PPK) and to open an Agrobank account to facilitate claims and disbursement of compensation.
"Such protection is important, especially when facing the monsoon season and uncertain risk of floods. These natural disasters can occur at any time. As such, early preparation is crucial to ensure that paddy farmers’ sources of income continue to be preserved.
"Through this STTP, Agrobank remains committed to strengthening support for farmers so that the country's paddy cultivation sector remains sustainable, thereby contribute to the nation's food security,” he added.
-- BERNAMA
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