A draft law “On agricultural risk insurance” has been developed in Uzbekistan, which was discussed on November 25 during the presentation of proposals for food security governance, increase of cotton and cereal crop yields, gazeta.uz writes.

According to the press service of the head of state, last winter 9,000 hectares of orchards and 4,000 hectares of vineyards suffered from frost. As a result, 207 thousand tons of crops perished. At the president’s request, a draft law “On agricultural risk insurance” was developed taking into account the experience of Spain, Turkey, Azerbaijan, the USA and Canada.

Deputy Minister of Economy and Finance Akhadbek Khaidarov noted that the traditional insurance system does not work in agriculture due to high risks. “Many countries regulate agricultural risk insurance by a separate law, and this is supported by the state. From this point of view, when developing a new draft law, we studied the experience of many countries, such as Spain, Turkey, Azerbaijan, the USA, Canada”, explained Akhadbek Khaidarov.

According to him, it is planned to create an Agricultural Fund for agroinsurance, as well as describe the mechanisms for insuring against the risks of natural disasters, pests and others, the source says.