Sri Lanka Launches Insurance Scheme to Boost Coffee Cultivation

The Agricultural and Agrarian Insurance Board is set to introduce a new insurance scheme aimed at expanding coffee cultivation across Sri Lanka, recognizing its high value in domestic and international markets. To be eligible, farmers must cultivate coffee in accordance with recommendations from the Department of Export Agriculture. The scheme will provide coverage for the first three years after planting, with farmers paying an annual premium of 7 percent of the insured amount. Insured sums are set at Rs. 510,000 for the first year, Rs. 660,000 for the second, and Rs. 840,000 for the third year.