State-owned Philippine Crop Insurance Corp. has earmarked P622 million to indemnify farmers in Luzon following the successive onslaught of typhoons Karen and Lawin.
PCIC president Jovy Bernabe said in a report to Agriculture Secretary Emmanuel Piñol that a quick assessment of the post-typhoon situation showed that 103,338 hectares operated by 81,700 farmers were damaged.
The report said the rice sector suffered the most, with about 77 percent of the farmers and areas affected.
Corn farmers accounted for about 15 percent and while their farms represented 13 percent of those damaged by the typhoons.
Bernabe said rice accounted for 86 percent, or P533.26 million of the indemnity allocation; corn, 1.86 percent or P11.55 million; and high-value crops, 12 percent or P76.82 million.
Typhoon Karen hit the country on October 15 to 16 while Typhoon Lawin, which was the most destructive to hit this year, struck on October 19 to 20.
