Muscat – The Food Security Committee of Oman Chamber of Commerce and Industry (OCCI) on Tuesday underscored the growing importance of agricultural insurance amid mounting challenges posed by climate variability, epidemics and other risks affecting agricultural activity.
At a meeting held in the chamber’s headquarters in Muscat, the committee stressed the need to develop dedicated agricultural insurance products with flexible terms to protect farmers, ensure the continuity and sustainability of production, and strengthen national food security. The meeting was chaired by Saleh bin Mohammed al Shanfari, Chairman of the committee, in the presence of several members.
Members noted that the absence of comprehensive insurance coverage exposes farmers to significant losses, particularly during extreme weather events and disease outbreaks, highlighting the urgency of expanding insurance solutions tailored to the needs of the agricultural sector.
As part of its recommendations, the committee called for organising a specialised seminar on agricultural insurance in collaboration with relevant stakeholders, including insurance providers and sectoral authorities. It also proposed holding a public session focused on entrepreneurship in the agricultural sector to encourage innovation and investment.
The committee further reviewed a number of regional and international models of agricultural insurance products, stressing the role of food and agricultural associations in facilitating insurance procedures, raising awareness among farmers, and contributing to the development of effective and fair compensation mechanisms.
