Brazil’s Ministry of Agriculture: in 2021, insured value reached US$12.3 billion
RIO DE JANEIRO, BRAZIL – Approximately 121,000 rural producers were benefited, 218,000 policies were contracted and the total insured area reached 14 million hectares, 2.4% more than the 2020 result. “The insured amount in Brazil reached a record R$68.3 (US$12.3) billion last year, an increase of approximately 49.1%.”
Also according to the Ministry, between January and October 2021, insurers paid out around R$3.6 billion in compensation to producers, 76% higher than the R$2.1 billion paid in the same period in 2020.
“In 2021, we emphasize the growth of livestock operations, which had an increase of 109%; coffee of 40%; forest of 22% and corn, 1st and 2nd crops, of 18%,” the Ministry said in a statement.
The crops which showed the highest demand for rural insurance were soy, corn (2nd crop), wheat, corn (1st crop), coffee, apple, grape, rice and tomato.
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