State to take greater part in crop insurance – Possible increase of subsidies to 70%

Source: Politika Sunday, 24.06.2018. 08:40
Comments
Podeli
Illustration (Photo: Rajko Karišić)Illustration
Producers from western Serbia, whose crops, as it turns out, are the most affected by adverse weather conditions, hail in particular, will be able to get more substantial subsidies for insuring their production, Politika writes.

As the newspaper reports, the Government of Serbia is considering the possibilities of raising the share of subsidies from the current 40% to 60 to 70% in the most affected areas.

As Minister of Agriculture Branislav Nedimovic told Politika, it has turned that the system of insurance support in the most affected areas needs to increase. He pointed out that he hoped that the initiative would be put to practice the next year.

The insurance companies operating in Serbia provide agriculturists with the possibility of insuring practically any kind of production from nearly all the most common risks. However, only 10% of the crops in Serbia are covered by insurance, putting the country at the bottom of the list in Europe, whose average is 50%.


A loss of yields can be insured from several different types of risk. Fires, thunder strikes and hail are considered the main ones and around 95% of the producers opt for this type of insurance.

Floods, autumn and spring frost or storms are additional risks, but there’s no great interest in these type of protection, as they increase the premium.

The premium depends on the crop type, the location of the plantation, the coverage option, the yield and the price of the product.


Comments
Your comment
Full information is available only to commercial users-subscribers and it is necessary to log in.

Forgot your password? Click here HERE

For free test use, click HERE

Follow the news, tenders, grants, legal regulations and reports on our portal.
Registracija na eKapiji vam omogućava pristup potpunim informacijama i dnevnom biltenu
Naš dnevni ekonomski bilten će stizati na vašu mejl adresu krajem svakog radnog dana. Bilteni su personalizovani prema interesovanjima svakog korisnika zasebno, uz konsultacije sa našim ekspertima.