They strengthen the subsidy fund for farmers in the face of droughts

After changes were made in October 2023 to the Guarantee Fund for the Field and Agrarian Insurance (Fogasa) to mitigate the effects of an El Niño phenomenon, the Ministry of Agrarian Development and Irrigation (Midagri) issued the regulation that will allow it, among other aspects, to provide coverage to forestry producers.

Onwards, Investments in this sector will be protected by the fund that depends on Cofide in the event of natural, climatic, biological events or other exceptional situations. that have impacted or negatively impact your agricultural activity.

However, the new regulations of the Fogasa It does not stop there: now it will also contemplate the delivery of subsidies to small agricultural producers in Peru in case they lose their crops or livestock due to the weather.

This complementary initiative of Midagri It will be activated after disasters, ensuring assistance to those who have not been covered by current agricultural insurance mechanisms.

“The new regulations will also allow the improvement and creation of agricultural insurance mechanisms for the benefit of producers, adapting to the changing needs of the sector,” said Midagri.

In addition, there will be three complementary layers of insurance: the Catastrophic Agricultural Insurance (SAC), Co-financed Agricultural Insurance (Sagro) and subsidies through direct economic compensation to the producer.

Finally, It is expected to cover more than 1.86 million hectares of crops throughout 24 departments and benefit around 700,000 small producers. that have crop areas of up to 10 hectares, mainly producers from the high Andean areas.

Data

Climate. Insurance can reach up to S/10 million for lost crops.

Support. The SAC is covered 100% by the State for the most vulnerable farmers.