Costa Rica: Low Cost Insurance for Rice Crops

The state has reduced insurance premiums for crop insurance for rainfed rice to $224, $197 and $149 per hectare for areas of high, medium and low risk, respectively.

Thursday, July 10, 2014

Although the premium reduction is partly due to the request made by the rice sector, the reduction is not enough according to producers.

Carlos Chaves, president of Conarroz, told Nacion.com: "... 'For us, this reduction is substantial, but it is not what we need, so we are asking for a subsidy system to help us pay for premiums'. "

Alejandra Garreta, head of the INS Professional Technical Services, said: "... The risk levels were defined considering the claims experience of each area, ie, if they are linked to the planting area and have no relationship with the number of hectares . "

Rice is the only agricultural product that has had reductions made in insurance premiums this year.

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A decree fixing prices has distorted normal market functioning, and caused overproduction of 19,000 tonnes.

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