A detailed discussion on ways to implement unified insurance and protect Oman’s farmers, fishermen and livestock owners was the highlight of a symposium, held on Wednesday, on Agricultural, Livestock and Fisheries Insurance, organised by Oman Chamber of Commerce and Industry (OCCI) under the auspices of Dr Hamad bin Said bin Sulaiman al Aufi, Minister of Agriculture and Fisheries.
The discussions, held in the wake of the recently announced Agriculture and Fisheries Policy, brought together all stakeholders under one roof to deliberate ideas to initiate and market a unified insurance policy for all Omanis engaged in three sectors.
“These discussions between various stakeholders are to ensure a consensus between farmers, fishermen and livestock owners and to arrive at a unified insurance policy for all as the country considers agriculture, livestock and fisheries sectors as important sectors that contribute to the national economy and is aiming at supporting its growth,” said Saleh al Shanfari, Chairman of the Food Security Committee at the Oman Chamber of Commerce and Industry.
“People engaged in these three sectors are subject to various climatic risks and one of the ways to mitigate risks is to have a unified insurance policy that allows fishermen to go to the sea and farmers to engage in their cultivation confidently,” added Al Shanfari, who is also the CEO of Oman Food Investment Company.
The Agricultural Insurance Policy of the Sultanate was brought in 2018 after assessing the developments witnessed in the agricultural, animal and fisheries sectors globally, along with the Unified Marine Insurance Policy for boats, ships, fishing equipment and personal accidents for fishermen earlier.
People engaged in these three areas are protected against threats posed by climatic conditions but Al Shanfari feels that it is not marketed properly.
“There are farmers who are not even aware of the same the reason of which I presume is the premium cost of the policy which needs to be reviewed and discussed.”
“We want to arrive at a consensus of all parties concerned and by bringing everybody under one roof, we are able to come to conclusions,” Saleh further said.
The participants observed that the new policy that was brought to light recently after consultations with various stakeholders covers any loss in crops, livestock, or any commercial activity of these farmers due to adverse weather conditions.
“The reason why we need to talk more about the policy is that we need to market the same whereas today we have not marketed it properly. This will lead to more discussions of which Omani Agriculturists Association is a part and the policies are supported by the government.”
The symposium on agricultural insurance, livestock and fisheries, also discussed another dimension of the economy represented in the insurance of the agricultural sector, animal and fisheries, and make them more permanent sources to support the national economy. Accordingly, there were sessions on financing and credit facilities provided to fishermen and farmers, the ‘importance of agricultural insurance in agricultural development’; and ‘the importance of insurance for the fisheries sector and fishing activity in the Sultanate and maritime laws’.
OMAN RANKS HIGH IN
FOOD SECURITY
Saleh al Shanfari noted that Oman is one of the most secured countries in terms of food security.
“In terms of food security, we are 29th globally, 3rd in the GCC and Arab world and in terms of readiness, we are number one in the Middle East and we rank one of the highest in the world in terms of accessibility to food.”
He concluded that there are food storage everywhere and in terms of emergency and facilities to feed the needy at times of emergency.
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