In Spain, the olive grove receives almost €23 million in compensation during 2022

Published Jan 12, 2023

Tridge summary

In 2022, olive growers insured with Agroseguro in Spain received compensation of 22.9 million euros, marking a significant increase from 16.6 million euros in 2021, largely due to severe heat waves and droughts that greatly impacted the olive crop. This is part of the 768.85 million euros in total compensation paid by Agroseguro to insured farmers for various losses, a 6.5% increase from the previous year and the highest annual figure in the Spanish Combined Agricultural Insurance system's 42-year history. The losses were caused by adverse weather conditions such as severe frost, drought, high temperatures, and strong storms, affecting over 1.6 million claims and nearly two million hectares of land.

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Original content

Olimerca.- Compensation from Agroseguro to olive growers insured for claims that occurred in the olive grove during 2022 have reached 22.9 million euros, compared to 16.6 million euros in 2021. And it is that throughout this year it has been characterized by long periods of high temperatures (heat waves) that, combined with the lack of rainfall, have been detrimental to this crop that, as we are seeing in the latest news published in this medium, its production has collapsed this season. Globally, the compensation paid by Agroseguro to insured farmers and ranchers for claims that occurred during the last 12 months amounted to 768.85 million euros, 6.5% more than the previous year. This represents the highest annual figure of the Spanish Combined Agricultural Insurance system –exceeds the 732 million paid in 2012, an exercise of severe drought–, and confirms the current marked climatic reality, since the years 2017, 2018, 2020, 2021 and 2022 –that is, the most recent– are, together ...

Source: OliMerca