REPUBLIKA.CO.ID, YOGYAKARTA -- The Agriculture Ministry will provide Rp150 billion in subsidy for farmers to insure one million hectares of rice fields during the October 2015-March 2016 planting season.

"Farmers will only pay Rp36 thousand out of the Rp180 thousand worth of premium for every hectare of rice field during one planting season. They will receive insurance coverage worth Rp6 million for every hectare of failed or dried rice field," Secretary of the Directorate General of Infrastructures and Facilities of the Agriculture Ministry Abdul Madjid noted here on Monday night.

The subsidized insurance is in accordance with the implementation of the law on farmer protection. To implement the law, the agriculture minister has issued Regulation No. 40 of 2015 on agriculture insurance facilities.

Financing Director Mulyadi Hendiawan who accompanied Madjid remarked that the regulation was being processed at the Law and Human Rights Ministry. He expressed hope that it could be made public next week.