Agrarian Insurance Fund: Losses to farmers in Azerbaijan may increase by 50-70%

In Azerbaijan, 3.7 million manats ($2.2 million) were paid for damages caused to farmers within the framework of the agrarian insurance system in January-April 2025, Chairman Fuad Sadigov said at the 4th Agribusiness Development Forum held in Baku, according to Report.

"We think that by the end of the year, these figures will be 50-70% higher than the corresponding period last year. In the last two years, this indicator has exceeded 10 million manats ($5.9 million)," Sadigov noted.

He added that the non-commercial agrarian insurance model applied in Azerbaijan was formed based on the successful experience of Türkiye.

Sadigov emphasized that the independent expert cluster established by the fund currently includes 95 specialists licensed by the Central Bank of Azerbaijan.