Milma launches insurance scheme for dairy farmers

The Kerala Cooperative Milk Marketing Federation (Milma) has launched an insurance scheme for dairy farmers to offset loss of income due to a fall in milk yield during the summer.

Milma on Wednesday inked a memorandum of understanding (MoU) with the Agricultural Insurance Company of India Ltd (AIC) for introducing the cattle insurance scheme titled ‘Saral Krishi Bima.’

To start with, the scheme, implemented by Milma with AIC and AIMS Insurance, will be available to dairy farmers under the Malabar Regional Cooperative Milk Producers Union (MRCMPU), Milma officials said.

The scheme, which covers cows and buffaloes, guarantees insurance benefits for farmers if the temperature exceeds the specified limits for six consecutive days or more, resulting in drastic fall in milk yield.

Under the scheme, the temperature limit in Palakkad and Wayanad districts is pegged at 37 degrees Celsius, Kannur and Kasaragod 34.5 degrees Celsius, Malappuram 33.5 degrees Celsius and Kozhikode 33 degrees Celsius. If the temperature exceeds the limit for more than six days, the farmers will get a compensation of ₹140, for more than eight days ₹440, for more than ten days ₹900 and for more than 25 days, ₹2,000, a statement by Milma said.

Farmers can register for the scheme through dairy co-operative societies to which they belong. The insurance company will provide the benefit after reading the recorded temperature of the respective area using satellite data.