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Agricultural insurance to be applied for these products - LIST

19.12.2019,16:06


December 19, Fineko/abc.az. The list of products subject to agricultural insurance has been endorsed.

ABC.AZ reports that the Cabinet Ministers signed a Resolution on products subject to the influence of agricultural insurance. This June the Law on Agricultural Insurance was adopted.

Agriculture Ministry’s Department of Public Relations & Information Support informs that taking into account international experience, it is advisable to phase out this process. On the other hand, a decision was made to carry out this work in stages, as our country’s experience in calculating tariffs in the field of agricultural insurance, assessing insurance risks and losses is insufficient.

At primary stage in the field of crop production is to strengthen food safety, reduce the dependence of the vegetable oil industry on sources of raw material imports, and support the development of sugar beets: wheat, barley, corn, potatoes, sugar beet. With the purpose to replace imports and strengthen export potential: oranges, lemons, mandarins, tea, tobacco, nettle, grapes, nuts, cotton. As for animal husbandry, the country sets a goal to increase productivity and production indicators: dairy cows and buffaloes aged 1-7 years.

By this August’s decree President Ilham Aliyev established the Agricultural Insurance Fund, and State Budget 2020 will allocate AZN 5 million to the Fund.