A Game-Changing move by Syngenta India towards more sustainable smallholder farmers' growth
In India, because of market fluctuations, the farmers have been switching between crops. The farmers struggle to secure investments made in crop cultivation. Most of the crop production in the country is contributed by the smallholder farmers in India.
To support smallholder farmers of the country to secure their investment, for the first time in the Vegetable Seeds Industry, Syngenta India Veg Seeds is coming together with the Agriculture Insurance Company of India (AIC).
We are providing a minimum price guarantee in association with AIC, to the farmers who are growing Syngenta Hot Pepper Hybrid HPH 5531.
The pilot is made at Achampet, Guntur, over 2000 farmers are growing Syngenta Hot Pepper Hybrid HPH 5531 presently. HPH 5531 is popular among farmers as it is the first choice by the processors. The farmers go to Guntur APMC to sell the red dry produce where the actual price of the commodity is updated daily.
The insurance product will protect policy-holding farmers against expected fall in market prices. If the market prices fall for the insured crop to a level below the indemnified support price, resulting in a loss, AIC will compensate the policyholder by providing the difference between this Indemnified support price and the market modal price
This game-changing move will provide much-needed financial security to the Syngenta farmers who are growing hot pepper hybrid. Syngenta Vegetable Seeds have always been working towards providing growers with the highest quality seeds and bringing product innovation to create value at every step of the chain to create sustainability.
Benefits to growers like Moopan and Sadharam:
Prevent the loss in income due to sudden, unexpected fall in prices due to external factors
Minimization of the risk due to unpredictable prices during supply demand variation
Secure the money invested in growing the crop
Secure a market price so they can grow the crop with confidence
