A COMPANY that originated from India is set to introduce a technology that can help farmers predict their yield and keep track of their loans.
Indian company SatSure uses satellite imagery and sensor technology (IoT and weather data), cloud computing and big data infrastructure, and machine learning and predictive analysis algorithms to predict farm output.
The information gathered from the aforementioned three areas enables timely interventions when it comes to banks, insurance companies and the government.
"We're helping the farmers to be knowledgeable. And we're helping the finance people, the banks and insurance companies, to make decisions and reduce their risks," Dr. Eugen Tjong of SatSure said.
Tjong added that the technology is accessible to the government, cooperatives, farmers, banks and insurance companies.
According to Tjong and Arvind Kumar TJ, SatSure director-Asean Region, the company can generate near real-time location specific insights through their geospatial big data platform.
"We can tell you exactly how much rice grown right now and based on the forecast, what the yield will be in three months time," Tjong said.
He said they can also help farmers in identifying what crops are better suited to plant in their land.
Kumar also said that SatSure can assist the agriculture sector by providing opportunities for banks and insurance companies to provide sustainable solutions to farmers.
Tjong and Kumar joined the hundreds of cooperatives and city officials in the Mindanao Cooperative Summit 2019 last Thursday, September 5, at the Xavier University Gymnasium.
The cooperative summit discussed several topics, such as the state of the environment in Cagayan de Oro City and Northern Mindanao; advancing the rights of the Indigenous People (IP) on ancestral domain, cultural integrity, self-determination and empowerment; food security, ensuring agricultural productivity amidst climate change, and Department of Agriculture's programs for cooperatives and IPs; and poverty reduction programs and policies.