VIJAYAWADA: In a unique move to empower chilli growers in Guntur and save them from the price fluctuations and unpredictable market conditions, the Syngenta India has entered into an agreement with the Agriculture Insurance Company of India (AIC).
AIC is a central government entity. The two would jointly initiate a pilot project to guarantee a fair price to chilli in the region.
Dr. KC Ravi, chief sustainability officer, said the aim is to provide smallholder farmers the requisite shield against market price fluctuations and secure their income.
This scheme involving AIC and Syngenta’s Vegetable Seeds division will be a game-changer for chilli growers. Guntur has been chosen for the pilot project as around 80 per cent of the red chilli dry auction takes place at the Guntur APMC.
Sanjay Singh, territory head, said, “In a small village of Achampet mandal in Guntur, over 2,000 farmers are growing hot pepper hybrid HPH 5531. These farmers have an average land holding of 2 acres and invest around Rs 1.5 lakh per acre to cultivate the crop.
AIC is providing a unique opportunity through an insurance policy to smallholder farmers who are growing hot pepper hybrid, he said....