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Crop insurance started in Kazakhstan

Kazakhstan
Published Feb 21, 2023

Tridge summary

In Kazakhstan, insurance of crops against drought and rains has begun. This year, applications from farmers for concluding contracts are accepted on the website Kezekte.kz. This was reported by the Agrarian Credit Corporation, which is the operator of the insurance program. The ACC recalled that the cost of an insurance contract for farmers is reduced by 80% due to state subsidies. Previously, the list of crops subject to insurance included cereals (wheat, barley, oats, corn) and oilseeds (sunflower, rapeseed, flax). This year, the list also includes buckwheat, millet, grain sorghum, spring triticale, spring rye, peas, chickpeas, lentils, soybeans, spring camelina, safflower and mustard. Insurance contracts against soil moisture deficiency for grain crops must be concluded before April 1, for oilseeds - before April 15, 2023. The period of insurance protection for the soil moisture deficit index (two phases) is from June 15 to September 15, 2023, for the soil moisture deficit index (three phases) - from May 15 to September 14, 2023.

Original content

Insurance contracts against excess moisture in the soil must be concluded before August 1, 2023. The insurance cover period for this product is from August 15 to October 14, 2023. The ACC also announced a change in tariffs for index insurance products. In the event of an insured event, the farmer will receive an insurance payment in the amount of 16 million 500 thousand tenge (1000 hectares * 50 thousand tenge * 33%), which corresponds to a maximum amount of 33% of the insured value under the contract for two-phase insurance. According to the Corporation, over the three years of implementing the index insurance of deficiency and excess soil moisture, farmers received 2 billion 552 ...
Source: Zol
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