The move is expected to bolster the resilience of one of the island’s most vulnerable farming groups amid growing threats from natural disasters and industry shocks.
Speaking during the weekly pre-Cabinet press briefing on Monday, Minister Prospere noted that the launch represents a proactive approach to long-standing challenges.
“We are in the hurricane season, and you don’t know when a natural disaster will hit our farmers. Banana and plantain farmers are the most vulnerable. Any strong winds could collapse those plants,” he explained.
According to the Minister, this new insurance initiative is not only timely but necessary. In recent years, banana and plantain farmers have suffered major setbacks from disease outbreaks like Black Sigatoka, to export delays caused by box shortages, and significant storm damage.
“Just last year, we had a serious problem with Black Sigatoka, and our government had to assist the farmers. Before that, we had a major problem with the unavailability of boxes to export bananas, and the government stepped in to help,” Prospere recalled.
He also cited the impact of Tropical Storm Bret in June 2023, where the state again had to provide financial support. With the new scheme, the burden on public funds may be reduced: “The commencement of an insurance scheme for farmers will reduce the government’s having to find financial resources for all of that,” the Minister stated. “Our banana and plantain farmers, if there is any major natural disaster this year, would at least be covered and able to receive some compensation from that insurance.”
The scheme is being rolled out initially to banana and plantain farmers due to funding limitations.
“We only have one million EC dollars allocated for the insurance for the sector. When we looked at coverage for the entire sector, including vegetable and livestock farmers, we realised it was not sufficient. But with banana and plantain farmers being the most vulnerable, we decided to start with them.”
The government is hopeful that this pilot phase will pave the way for broader coverage in the future. However, the Minister made it clear that the long-term success and expansion of the insurance scheme will depend on collective responsibility.
“We are hoping that we will continue to expand the program to involve every other stakeholder in the sector. But it would mean that the government would not be able to sustain the actual payment of the premium. We are hoping that farmers and all of the stakeholders would be more than willing to contribute to that so that we can expand.”
The launch event is expected to bring together key stakeholders in the agriculture industry and is being viewed as a pivotal step in protecting Saint Lucia’s food security and agricultural economy.