The President of Ukraine signed changes to the agricultural insurance system

The President of Ukraine Volodymyr Zelensky signed the Law №1601-IX "On Amendments to Some Laws of Ukraine on Improving the Legal Regulation of Insurance of Agricultural Products with State Support", which was adopted by the Verkhovna Rada on July 1, 2006 . This was announced on July 22 by the presidential press service.

According to the report, the signed law is designed to ensure the financial stability of producers in adverse weather conditions, to increase the number of insured agricultural land and expand the insurance market for such products.

In particular, the document increases the income tax rate under insurance contracts for agricultural products by 0.5 percentage points in order to further direct these funds to support the insurance of these products.

The law also defines the mechanism for providing state support to agricultural producers to insure their products, as well as the requirements for market participants who can receive such assistance. In addition, the objects of insurance, insurance products, risks and cases of insurance with state support are determined.

The amount of partial reimbursement of insurance payments to agricultural producers is set at up to 60%. At the same time, it is noted that the specific amount of compensation is determined based on the capabilities of the state budget in the appropriate order of use of budget funds.

At the same time, the document abolishes the provisions on insurance of agricultural products through the Agrarian Insurance Pool.

"The law enters into force on the day following the day of its publication," the statement said.

Source: АПК Информ

Related Articles
Ministry of Agrarian Policy signs annex to Memorandum of Understanding with grain market participants
On October 19, grain market participants and the Ministry of Agrarian Policy and Food of Ukraine signed an annex to the Memorandum of Understanding for the 2021/2022 marketing year.
CURRENT PRICES
The RICHFIELD group of companies offers mineral fertilizers at favorable prices with the possibility of payment upon loading in the warehouse or delivery to the farm.
Ukraine raised agricultural production sizably in January-August
In January-August 2021, the production volumes of agricultural commodities in all categories of Ukrainian agricultural households increased by 8.4% compared with the same period last year, reported the State Statistics Service of Ukraine.
Export terminal construction prearranged in Pivdenny port
Techagro company is considering a greenfield terminal construction in the Port of Pivdenny. The facility will specialize in reception and transshipment of grain and oilseed crops.
Peculiarities of zonal fertilization systems
The publication considers the features of zonal fertilizer systems of Ukraine.
Why is the price of fertilizers not falling?
Nitrogen fertilizers have reached the peak price on the world market. This is evidenced by the recent reduction in the price of urea in the Baltic and Black Seas.
Features of application of potassium fertilizers
The article considers the features and nuances in the application of potash fertilizers, taking into account the types of soils and crops to which they are applied.
Cherkasy "Azot" completed the modernization of the ammonia production plant
At Cherkasy-based Azot, part of the Group DF group of nitrogen enterprises, the modernization of the A-5 ammonia production plant has been completed. Investments amount to UAH 22.28 million.
up