Coffee trader seeks to shield more Vietnam growers from weather
Major coffee trader ECOM Agroindustrial is pushing for a fivefold increase in the number of growers covered by its specialty weather insurance in Vietnam, where the industry depends on thousands of small farm increasingly exposed to climate risk.
The world’s second-biggest coffee trader is seeking to expand the coverage to 2,500 farmers this year, up from 500, said Laurent Bossolasco, Vietnam-based sustainability manager at ECOM. The company piloted the parametric insurance program five years ago, under which payouts are triggered if it rains too much or too little and farmers don’t have to provide proof of crop losses.