BAKU, Azerbaijan, May 15. A total of 1.3 million insurance contracts worth 98 trillion rials (about $2.3 billion) have been signed in Iran for production in the agricultural sector since the beginning of the current crop year (from September 23, 2023 through April 20, 2024), the statement of Iran's Ministry of Agriculture said, Trend reports.
Around 31 trillion rials (about $738 million) of registered funds during the announced period is the insurer's share, while 65 trillion rials (about $1.55 billion) is the government's share.
Meanwhile, 3.4 million ha of agricultural land for agricultural production are insured under 720,000 contracts worth 50 trillion rials (about $1.19 billion).
Besides, 357,000 ha of horticultural land for the production of horticultural products are insured under 320,000 contracts worth 31 trillion rials (about $738 million).
In the poultry sector, 1.1 million birds were insured under 65,000 contracts worth 9 trillion rials (about $214 million).
Approximately 8.3 million heads of cattle were insured under 127,000 contracts worth 6.4 trillion rials (about $152 million).
In fisheries, 700 million pieces of fish and sea creatures were insured under 1,100 contracts worth 740 billion rials (about $17.6 million).
To note, on average, more than 130 million tons of agricultural products are grown annually in Iran.
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