Minister of Agriculture and Forestry Ibrahim Yumakli has announced that the government plans to offer income protection insurance across the country in 2024 for growers of all types of grain.
He said that the state would provide a subsidy ranging from a minimum of 50% to a maximum of 60% of the premiums payable, according to local media reports.
The government is expanding income protection insurance following the implementation last year of such coverage for wheat growers. Farmers have been able to obtain wheat insurance since 1 November 2023, if they are registered with the Ministry.
Mr Yumakli said, “We will start the implementation of income protection insurance for wheat in all provinces from the beginning of 2024.
“The arrangement will start with grain products, and other product groups will be included in the future,” he said.
The government-backed agricultural insurance pool, Tarsim, has raised its discounts on premium rates for 2024 but expanded the scope of insurance coverage.
The changes are set out in the ‘Decision on Risks, Products and Regions and Premium Support Rates to be Covered by the Agricultural Insurance Pool (TARSIM) in 2024’, drafted by the Ministry of Agriculture and Forestry and published in the Official Gazette. The decision entered into force on 1 January 2024.
For example, when the insurance policy is collectively through breeder associations for cattle and sheep life coverage, the premium is reduced by 10-50%, depending on the number of animals.
Another example is foot and mouth disease, which was previously included as additional coverage in sheep life insurance, has now been included in the comprehensive tariff as a standard protection item. M