Kerala Milk Co-Operative Launches Insurance Scheme For Dairy Farmers

The Kerala Cooperative Milk Marketing Federation (Milma) launched an insurance scheme for dairy farmers on Wednesday. This is a first-of-its-kind of cattle insurance plan in the state that offers compensation to dairy farmers for economic loss due to a decline in milk yield during the summer.

A cattle farmer, Muralidharan, who is relieved by the scheme, owns seven cows that would normally yield a total of 85 litres a day, earning him a daily sale of around Rs 3,700.

However, in summer when the temperature soars, the daily yield dips to 65 litres a day causing him a business loss of nearly Rs 1,000 a day while his feed and other input costs remain the same.  

Muralidharan, who belongs to Palakkad district, has registered for this policy launched by Milma.

"I am happy to be part of this scheme. Scheme like this is quite encouraging for farmers," Muralidharan told NDTV.

Benny John, another cattle farmer, says that the yield of his cows has come down from Rs 900 to Rs 700 per day during the summer season.

"My expenses towards feed is at Rs 360 a day. I hope the insurance will help me recover a bit," he told NDTV.

Launched by Agriculture Insurance Company of India Ltd (AIC), interestingly like crop insurance farmers do not have to file claims and struggle for payment.

Under the scheme, the temperature limit is fixed for each district and the payout is done if the temperature exceeds six, eight, 10 or 25 consecutive days. Then the farmers will get a compensation of Rs 140, Rs 440, Rs 900 and Rs 2,000 respectively.

"The claim will be settled automatically and it will be calculated based on weather data. While the temperature will be monitored using IMD's satellite data. Farmers need not inform the insurance company," Dr PR Prasidha, State Head AIC of India told NDTV.

However, each insured cattle will be eligible for a maximum cover of Rs 2,000 in April and May. The policy costs Rs 100 per animal and the Kerala Cooperative Milk Marketing Federation (Milma) bears 50% of the premium cost.

Around 15,000 cattle are expected to be covered under this policy.

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