Agricultural insurance to cover all types of fish products – Cabinet`s decision


December 19, Fineko/abc.az. The Cabinet Ministers signed a decree on products subject to the influence of agricultural insurance.

ABC.AZ reports that with the purpose to stimulate the development of aquaculture, increase the share of local production in providing fish products at the initial stage, its insurance will be ensured.

The Agricultural Insurance Fund will also take part in the insurance of these products, undertaking 50% of the risk. Joint insurance of these products by the AIF and private insurance companies will reduce investment risks, strengthen the protection of farmers, provide conditions for the expansion of production, have positive impact on employment, lead to an increase in production of these products, affect the stabilization of prices in the market, contribute to food safety and strengthen the insurance market.

It should be noted that the Law on Agricultural Insurance was passed in June 2019.

By Elmir Murad