The Ministry of Agriculture, Fisheries and Food (MAPA) has approved an increase in the prices of arable crops for the purpose of calculating the insured capital and the value of a possible claim compensation for next year, as reported this Friday in a release.
It has done so through a resolution signed today by the president of the State Agricultural Insurance Entity (Enesa) which will mean, as they have described, a “significant” increase in prices.
This increase has occurred especially in cereals, 40% in the case of durum wheat, 25% for common wheat and barley, and 20% for corn.
Also in oilseeds, especially rapeseed (50%) and sunflower (14%), as well as legumes (around 5%).
The insured of this line will be among the first to be able to benefit from the extraordinary increase of 60 million euros allocated to the agricultural insurance policy approved by the Government, as detailed by the Department.
Likewise, since there will be no variations in the rates for the next campaign, the cost of insurance for the farmer will be reduced “considerably” compared to the current campaign.
In general, the average subsidy in the line of arable crops will increase by around 23%, which may vary depending on the modality contracted and the possible additional subsidies of the insured.