Azerbaijan Extend Agricultural Product List Insured by State Budget

Azerbaijan, Baku, 2 June / Trend corr. U.Ismayilova / Sabir Valiyev, Head of the Plant Growing, Seed-Growing and Protection of Plants Department at the Azerbaijani Agricultural Ministry, stated that the Agricultural Ministry has appealed to the Cabinet of Ministers to extend the list of insured state agricultural products

The previous list of agricultural products, insured at the expense of the State Budget, included wheat, barley, corn, sunflower, potatoes, sugar-beet and greens. Now, fruits, rice and leguminous plants have also been included into the list.

Under the approved amendments into the Bill on help to develop the agricultural sphere in Azerbaijan in 2007, the share of financing of premiums by the state in the agricultural insurance was increased from 25% to 50%.

According to Aftandil Hajiyev, Deputy Chairman of the Azerbaijani State-run commercial insurance company Azersigorta, this decision was made due to increase of the risk to grow the aforesaid products and uncomfortable weather conditions.

"Insurance of these types of plants will be rendered by each insurance company, which has a license for this type of insurance, after the Cabinet will announce its decision in this regard," Hajiyev said.

The average tariff of the agricultural insurance totals AZN 1,500 per year in Azerbaijan.

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