WB experts study on possible introduction of insurance in Armenian agriculture

27.12.2012 11:40
WB experts study on possible introduction of insurance in Armenian agriculture

YEREVAN, December 27. /ARKA/. World Bank experts are looking into introduction of insurance in Armenian agrarian sector, Armenian minister of agriculture Sergo Karapetyan told journalists Wednesday.

International experience should be studied first, before setting priorities, the minister said.
He pointed out that the ministry intends to adopt insurance system first in livestock farming.
According to the minister, insurance is not a priority for Armenia due to its high costs. Yet, Armenia needs to take steps toward introduction of insurance system, he said.

Experts say insurance is quite risky in agriculture.

Earlier, Armenian premier Tigran Sargsyan said that agricultural insurance is not possible in the country as farmers are not ready for additional expenses.

There are currently some 340,000 farms in Armenia; the average plot size is only 1.2 hectares per farm.

Experts estimate that losses suffered by farms due to hail total about $30 million every year.  –0—


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