Friday, March 29, 2024

Wheatgrowers to vote on insurance

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It’s time for cropping farmers to have their say on their industry’s compulsory wheat growers’ insurance levy. United Wheatgrowers operates a compulsory insurance scheme covering all wheat grown and every six years growers are asked to give it their approval.
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The insurance levy has been operating since 1987.

United Wheatgrowers chairman Brian Leadley said the disaster relief insurance provides growers $225 a tonne cover through insurance company FMG at a levy rate of $3.75 a tonne.  

The scheme has no minimum loss and no excess on claims. Cover is limited to the costs of production but is unique in its range of perils and specific conditions offered. 

“It is significantly different from any other commercial crop insurance product in the marketplace in that it has a much wider cover as well as a much narrower range of conditions and exclusions.

“This is farmers’ chance to have their say and I strongly encourage them to take the time to vote as this is the most affordable insurance there will ever be for wheat growers.

“The only alternative is for farmers to take responsibility themselves through commercial insurance and I would confidently suggest this would not compare in terms of the affordability of this scheme.”

Leadley said with the industry committing to NZ milling wheat self-sufficiency by 2025 the compulsory disaster relief levy becomes all the more important.

“It aims to give security to growers to help them in the business of growing wheat, therefore supporting food security and it also aids border security with less imported wheat.

“It’s a good, hands-on farmers’ scheme supported by farmers for farmers.

“The most important thing is to vote,” Leadley said.

Voting closes on July 11, 2019.

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A cost benefit analysis of the scheme by The Agribusiness Group can be read at www.uwg.co.nz

Voting can be done online at www.uwg.co.nz

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