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Azerbaijan to give subsidies for sowing with agricultural insurance

2 September 2021 17:50 (UTC+04:00)
Azerbaijan to give subsidies for sowing with agricultural insurance

By Trend

The subsidies for sowing plants important in terms of food safety in the plots covering more than 10 hectares will be given with agricultural insurance for three years in Azerbaijan, Trend reports citing the Azerbaijani Ministry of Agriculture.

Azerbaijani President Ilham Aliyev signed a decree changing the "Procedure for subsidizing agricultural production", approved upon decree #759 dated June 27, 2019.

This amendment will apply to the products that are important for the country's food safety, as well as the products for export.

The list of these products will be created every year by the Council of Agricultural Subsidies.

The agricultural insurance mechanism is applied in Azerbaijan through state support. During a short period after its introduction, the process of applying the agricultural insurance was launched in many districts of the country.

The insurance fee for each hectare varies by the district in the range of 8-12 manat ($4.7-7.05), which is a meager part of the subsidy for sowing.

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