World meat industry news

The agricultural insurance industry can contribute to the development of financial cooperation between Russia and the BRICS countries and especially with China, experts say. China currently has the second largest agricultural insurance market in the world, and Russian specialists can learn from the experience of their colleagues.

Russian and Chinese agricultural insurers can exchange experience, and this will benefit the agricultural insurance industry in both countries, experts from the National Union of Agricultural Insurers (NUA) believe. In the NSA report, experts point out that the state-supported agricultural insurance program in China has been launched since 2007, and the country has accumulated a lot of experience in interacting with this system.

Agricultural insurance in China is in many ways similar to Russian, experts say. As in Russia, in China insurance of agricultural crops is most developed, the main part falls on grain crops. Oilseeds are covered by 50% insurance. In Russia, at the same time, the insurance of the livestock of pigs is at the same level, experts say.

Agricultural insurers in Russia may be interested in insurance programs that are unique to China — forest insurance and commercial mariculture insurance. In Russia, these areas are practically not developed.