São Paulo government releases resources for rural insurance

The Federation of Agriculture and Livestock of the State of São Paulo (FAESP) informs that the Secretariat of Agriculture and Supply of the State of São Paulo (SAA-SP) made available, through the Paulista Agribusiness Expansion Fund – The Family Agribusiness Bank (FEAP BANAGRO) –, resources of R$85 million for the state Rural Insurance Premium subsidy program. The measure was published in the Official Gazette of the State of São Paulo, on January 24th.

For the year 2023, a maximum grant amount of R$25 per beneficiary will be granted. The limits are up to 20% for sugar cane and soybean crops and 30% for other crops/activities, of the value of the total net rural insurance premium contracted with accredited insurers.

Tirso Meirelles, vice-president of FAESP, is a member of the FEAP Council and participated, last week, in the meeting that deliberated on this measure. According to the text published in the Official Gazette, the objective of SAA-SP “is to continue the State Rural Insurance Premium Subsidy Project, guaranteeing rural producers coverage for crop losses caused by adverse natural phenomena and/or reduction in revenue, and coverage of animal life, as well as losses in the citrus orchard resulting from contamination by the bacteria Xanthomonas axonopodis pv. citri (Citrus Canker) and Candidatus liberibacter ssp (Greening). The aim is also to expand the use of rural insurance, in order to reduce the value of the premium, providing producers with greater income stability by minimizing risks.”