The Armenian government expands agricultural insurance program covering 11 types of crops
Armenia's government has expanded the scope of its agricultural insurance program including 11 types of crops. The pilot agricultural insurance program was launched in September 2019, covering 2 types of crops - grapes and apricot. Later, it also included insurance of peach, apples, and barley / wheat.
From this year the insurance will cover 11 crops in all agricultural regions - grapes, apricots, peaches, apples, barley, wheat, oats, potatoes, watermelons, melons and plums.
Farmers will be able to insure themselves against hailstorms, late frosts, fires and a number of other agricultural risks.
A significant part of the insured amount is covered by the government. According to the Ministry of Economy, over the past 6 years, the average annual damage caused to agriculture by natural disasters is about $20 million.