Syngenta India signs pact with AIC

Guntur: To help several small landholders and save them from the unfavorable price fluctuations due to changing market dynamics, Syngenta India has entered into an agreement with the Agriculture Insurance Company of India (AIC) for chilli growers of Guntur.

The agreement will facilitate guaranteeing a fair price to the farmers for their crop produce by indemnifying them for losses incurred due to a fall in market prices.

"We understand the pain points of the farmers. This initiative is designed to provide smallholder farmers the requisite shield against market price fluctuation, securing their income and supporting them to keep cultivating the preferred crop,'' said KC Ravi, Chief Sustainability Officer, Syngenta India.

According to the release, over 2,000 farmers have been growing Syngenta's Hot Pepper Hybrid HPH 5531 in a small village of Achampet Mandal in Guntur. Hot pepper farmers have an average land holding of two acres and invest around Rs.1.5 lakh per acre to cultivate the crop. Preventing their loss when the market price of the commodity is not in their favour at the time of harvest will come as a relief to farmers as they can safeguard their investment, and in turn, reinvest that into their operation and next season's crop.