BAKU, Azerbaijan, May 7. The Agricultural
Insurance Fund of Azerbaijan has paid insurance totaling 23 million
manat ($13.6 million) to thousands of farmers and farm owners so
far, and this figure is increasing every year, Minister of
Agriculture Majnun Mammadov said at the Insurance Forum on the
topic "Agricultural insurance umbrella against risks" held in Baku
today, Trend
reports.


He noted that in 2025, agricultural products worth 7.6 billion
manat ($4.47 billion) were manufactured in Azerbaijan. The
agricultural sector accounts for 5.9% in GDP, and 8.3% in the
non-oil sector.


According to him, this sector plays an important role in the
food security of our country - 80% of food consumption is provided
by local production.


"In recent years, as in other areas, serious development and
qualitative changes have been taking place in agriculture in
Azerbaijan. This progress is manifested both in quantitative
indicators and in structural reforms. Thus, along with the overall
growth, the structure of the agrarian sector is being renewed;
along with ensuring food security, an export-oriented and effective
agrarian economic model is being established.


Currently, climate change is being observed in the world,
including Azerbaijan. The growth in unstable weather conditions,
the frequent occurrence of droughts and floods are clear evidence
of this. According to World Bank research, the number of
catastrophic events in the world has increased threefold in the
last 30 years, and these figures continue to increase every year,"
Mammadov explained.







The minister emphasized that the sector most affected by climate
change is agriculture.


"The damage caused to the agricultural sector by these changes
in the world is measured in billions of dollars. In Azerbaijan, an
agricultural insurance mechanism has been created by the country's
leadership in order to insure these risks and protect agriculture
from the consequences of climate change.


"Agrarian insurance is a new and very important mechanism
created by the state to support agriculture. This mechanism not
only covers losses incurred by farmers, but also ensures the
stability of income and forms a favorable investment climate in the
field," he added.


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