UKRAINE: Ukrainian government to stimulate agrarians to insure risks

25 April 2012 —
Ukrainian Premier Mykola Azarov has ordered Agricultural Policy and Food Ministry and the Finance Ministry of Ukraine to work out a mechanism to stimulate landowners to insure agricultural production against risks.

"I charge the Agricultural Policy and Food Ministry together with the Finance Ministry with working out mechanisms to stimulate grain market players to buy obligatory insurance of their risks, in order to completely switch to insurance compensation of risks within one-two years," he said at the opening of the sitting of the Cabinet of Ministers on Wednesday.

The premier said the state must create the conditions for the insurance of crops.

"It's necessary finally to switch to a civilized practice, in which natural and climate risks are compensated for not by the budget but by insurance companies. That's their job," Azarov said.

According to him, in 2012 it was necessary to reseed at least 2.5 million hectares of winter crops of 8.4 million hectares being sowed because of unfavorable weather conditions.

The premier noted the intention of the government to allocate UAH 300 million to compensate for the expenses of landowners on reseeding of winter crops.

Read the full story on www.interfax.com

UKRAINE: Ukrainian government to stimulate agrarians to insure risks
2928 views