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Only 4 to 5 per cent of farmlands insured in Moldova

10 july 2012, 15:05 print out copy link The link has been copied to the Clipboard

Only 4 to 5 per cent of farmlands in Moldova are insured, Agriculture and Food Minister Vasile Bumacov said today at the end of hearings on the situation in the farming sector organized by the opposition Party of Communists.

He noted that insuring farmlands is the best way to fight risks and the best solution for farmers to diminish the damage inflicted by disasters, including drought.

"Over the past years, the agriculture insurance market was liberalized and the number of companies entitled to insure farmlands increased," Bumacov said. He added that the ministry subsidizes 60 per cent of the insurance, but the number of farmers demanding this state support remains low.

Communist leader Vladimir Voronin said that the problem lies with the mindset of peasants who prefer risking rather than investing in agriculture. He added that the number of farmers investing in the consolidation of farmlands has been decreasing lately.


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