30.10.2018

Right from the start, Garaycochea stressed that government subsidies should not only target agricultural insurance solutions for subsistence farmers, as was currently the case in Peru, but also support agricultural insurance solutions for small farmers with market access. In line with Garaycochea’s plea, the Ministry of Agriculture and Irrigation’s Director of Financing and Agrarian Insurance, Luis Tejada, announced that government subsidies for agricultural insurances would increase by 28 per cent in 2019, and that a bigger budget would be allocated to commercial agricultural insurances in the future.

On the second day, the event focused on agricultural information and its relevance to designing adequate and affordable insurance products. The speakers and participants agreed that quality agricultural information was crucial to making informed decisions, both by the farmers, politicians and private sector stakeholders.

The representatives of three regional Peruvian governments presented the progress they had made in gathering agricultural information by means of satellite images through a tool called MAA (Mapping of Agricultural Areas).