Fuad Sadigov: 94% of arable lands in Azerbaijan have access to agricultural insurance services

Natural disasters that occurred in early April caused 13 million manats (over $7.6 million) of damage to Azerbaijan's agriculture sector, Fuad Sadigov, Chairman of the Board of the Agricultural Insurance Fund, said at the 4th Agribusiness Development Forum held in Baku, Report informs.

According to Sadigov, this amount only applies to damage suffered by insured farmers: "Since the beginning of the year, agricultural products worth a total of 26 million manats (almost $15.3 million) have been completely or partially damaged."

He noted that 94% of arable lands in Azerbaijan have access to agricultural insurance services:

"About 94% of the 1.6 million hectares of arable land registered in the Electronic Agricultural Information System have access to agricultural insurance services. However, this does not mean that all these areas are insured."

The official also pointed out that 27% of arable land was insured in 2024, and this result is a successful indicator for a 4-5 year period of activity.

Sadigov stated that access to agricultural insurance services has been provided for 75% of products produced in the crop production sector, and last year products worth 531 million manats ($312.3 million) were insured.