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Gov’t introducing agricultural crisis insurance scheme

The government is introducing an agricultural crisis insurance scheme to address recent market difficulties in the sector and challenges in the near future, including the current market and economic conditions caused by the coronavirus epidemic, writes

The bill on this was submitted to the Parliament by Minister of Agriculture István Nagy, his ministry announced.

Domestic agricultural risk management currently addresses the weather challenges of crop production with three overlapping elements.

With the introduction of the new fourth pillar, producers will also be able to cover their losses due to market disturbances, falling prices or animal and plant diseases, the ministry says.