BAKU, Azerbaijan, February 21. The number of farmers using agrarian insurance is growing in Azerbaijan and the area of insured crops is expanding.
Data obtained by Trend from the country's Agrarian Insurance Fund shows that this figure amounted to 447,000 hectares (ha), up 25,000 ha (six percent) compared to 2023.
Due to the increase in agricultural insurance payments and the growing confidence of farmers in agricultural insurance, interest in insuring crop fields and farms is also rising.
Last year, the number of agricultural insurance contracts for crop fields in the country increased to 56,662, which is an increase of 6,000 contracts ( 11 percent) compared to the previous year against 46,828 contracts in 2022, and 50,970 contracts in 2023.
The most insured crops in the country were wheat and barley fields.
As of the end of 2024, insured autumn wheat fields totaled 246,000 ha, and autumn barley fields totaled 116,000 ha.
Moreover, in 2024, 12.3 million manat ($7.2 million) of agricultural insurance premiums were collected for crop insurance, and a total of 513 million manat ($301 million) of insurance coverage was provided for these crops.
Last year, the Agricultural Insurance Fund insured certain crops (nectarines, watermelons, cherries, melons, and tobacco plants) for the first time, and along with ensuring watermelon fields, a large insurance payment of 94,500 manat ($55,600) was made concerning an incident that occurred in these crop fields.
In addition, the Agricultural Insurance Fund insured 3,276 cattle in 2024. Under these agreements, 1.9 million manat ($1.1 million) of insurance premiums were collected and 20 million manat ($11.7 million) of insurance coverage was granted to insured livestock farms.
Detailed information about agricultural insurance products, policy conditions, available insurance packages, and the risks covered can be obtained from the official website www.asf.gov.az, or by contacting the 1651 Call Center.