The plan was released by China’s Ministry of Finance. It provides for further expansion of agricultural insurance in both crop production and the livestock sector.
For pig and dairy production, the authorities propose improving insurance mechanisms through animal tracking technologies and dynamically adjusting coverage levels for breeding sows, finishing pigs and dairy cattle.
The government will also encourage the development of differentiated risk-protection programmes depending on farming models and production characteristics.
Crop Insurance Coverage to Expand as Well
A separate section of the plan focuses on crop insurance.
China intends to expand full-cost insurance and planting-income insurance coverage for rice, wheat, corn and soybeans.
The plan also calls for stronger insurance protection for other key agricultural products, including cotton, oilseeds, sugar crops and rubber.
Additional support is planned for insuring the production of potatoes, rapeseed, peanuts, sugar beets and highland barley, as well as rice, wheat and corn seed production.
Overall, the new plan is intended to make agricultural insurance in China more targeted and better adapted to the specific risks faced by different sectors, while strengthening producers’ financial resilience.
PigUA.info, based on materials from thepigsite.com