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Brazil plans to provide R$ 990 million for rural insurance

It will support the contracting of 140 thousand rural insurance policies in the country

The Federal Government of Brazil, through the Department of Agriculture, Livestock and Food Supply (MAPA) published on Tuesday (17/05) Resolution No. 93 of the Interministerial Management Committee of Rural Insurance, which approves the distribution of the budget of the Brazilian Rural Insurance Premium Subsidy Program (PSR) for the year 2022.

In the first three months of 2022, the insurers have already paid producers approximately R$ 5.8 billion in indemnities, resulting mainly from the losses observed in soybean and summer corn crops in the Center-South region.

The release of the R$ 990 million will make it possible to support the contracting of approximately 140,000 rural insurance policies throughout the country. The new feature is that the insured area will be georeferenced as of 2022 under the PSR, with a view to improving mapping information and satellite monitoring for cross-referencing with other databases.

R$ 500 million will be for winter crops (2nd harvest corn, wheat and other winter grains), R$ 324 million for summer grains, R$ 72 million for fruit, R$ 12 million for livestock, R$ 2 million for forestry and R$ 80 million for other crops. as reported on the official website of the Brazilian federal government.

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“BRICS members have a similar approach regarding the governance of the global economy. Our mutual cooperation can make a useful contribution to the global post-Covid recovery.”
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