PepsiCo to roll out weather insurance for potato farmers in 10 Indian states

Following the success of trial runs in Punjab, Maharasthra and Karnataka, PepsiCo International is reportedly planning to roll out a weather insurance scheme for potato growers in 10 Indian states covering an area of 14,000 hectares. Partnering with ICICI Lombard, PepsiCo introduced weather-based insurance for farmers in three states last year primarily for growers who supply potatoes for the company’s potato chips business. The crop in Punjab and Karnataka was severely hit by weather vagaries last season, and the company hopes this experience would prompt more farmers to join the insurance scheme this season. Apart from insurance, farmers also receive SMS alerts on weather conditions. Says Anuj Kumbhat, director, Weather Risk Management Services Pvt Ltd, ”A weather forecast SMS is delivered to farmers every 72 hours, which also helps farmers to plan for possible weather changes”.