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Brazil: Subsidy for Rural Insurance Premium allowed insuring R$ 12.6 billion in 2018
Apr. 1, 2019
The balance of the Rural Insurance Premium (PSR) Grant Program executed in 2018, available on the website of the Brazilian Ministry of Agriculture, Livestock and Food Supply, shows that the federal government subsidy of R$ 12.6 billion. This means that it was possible to benefit 42 thousand producers and 4.7 million hectares.
The director of Risk Management of the Secretariat of Agricultural Policy of the Map, Pedro Loyola, pointed out that the payment of indemnifications made so far totals more than R$ 1 billion for losses only in soy. But there were also problems in harvesting of rice, corn and coffee, among other activities. The program's support in purchasing 63,500 policies made it possible to maintain income for producers who had crop failures due to climatic problems.
Further, the payments of insurance indemnities contracted in the current harvest continue to be made during the current period.
One of the indicators used to measure program efficiency is defined by the ratio between the insured amount and federal grants. In 2018, each real invested-in-subsidy resulted, on average, in insured amounts of R$ 33.82. The crops that received the largest contribution of the subsidy were soybeans, with 42.5% (R$ 157 million), maize 2nd crop (22.3% or R$ 82.62 million), apples (9%, R$ 33.39 million), wheat (7.5%, R$ 27.85 million) and grapes (6.9%, R$ 25.54 million).
In the PSR 2018 Report, released by the Secretariat of Agricultural Policy, there was detailed information of state, municipality and insured activities.
There is also information about the PSR available in the Rural Insurance Atlas, an online tool for carrying out personalized consultations by the user. In the Atlas, it is possible to consult information about the program since 2006, using different parameters (year, state, municipality, activity, insurer, among others).
Unlike the Statistical Report, which presents the consolidated final results of each calendar year, the Atlas presents data that is updated daily, thus considering any cancellations and endorsements made by insurers in subsidized rural insurance policies.
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