Not Enough Agricultural Insurance in Nicaragua

Little knowledge on the subject and difficulties in properly measuring the risks are some of the causes of the limited supply of this type of coverage.

Thursday, February 5, 2015

Currently only one company, out of the 5 operating in the country, provides insurance for the agricultural sector. At the end of 2014, written premiums for this sector where only 0.05% of the total, ie $ 2.4 million. Union representatives argue that there is a market waiting for this service, but recognize that it is a high-risk segment.

Martin Rivas, head of stock marketing at the Association of Producers and Exporters of Nicaragua, told Elnuevodiario.com.ni that "... In this case insurers would have to analyze precipitation rates, because someone would have to keep statistics of such data in order to make the insurace effectice, and this is what probably is the cause for the lack of these services ... "



More on this topic

Strong Backing of Robusta Coffee in Nicaragua

October 2013

About 20 thousand acres are to be planted with the grain in the next few years, in order to produce up to one million quintals of coffee.

This was stated by the President of MerconCoffee Group, José Antonio Baltodano. "In the Atlantic Coast there should now be planted 2,500 hectares of robusta, whose production potential within three years could be about 100 million quintals, which would mostly be for export as local consumption is mostly of instant coffee and is small," he explained.

Nicaraguan Cattlemen Continue to Export Live Cattle

April 2013

They warn that if domestic prices are not adjusted and there is no guarantee to maintain the value of the local currency, they will not sell their cattle to local slaughterhouses.

Alvaro Fiallos, president of the National Union of Farmers and Ranchers (UNAG), is demanding that slaughterhouses adjust the price which has been kept frozen since late May last year at $2.97 per kilo in hot weight, and that they recognize the maintenance of the value of the cordoba.

Nicaragua: NO to Live Cattle Exports

March 2013

Entrepreneurs in the meat industry believe that the increase in exports of live cattle will affect the future of the herd.

"The industry's concern is that Guatemala has already imported 3437 tonnes of cattle, where a large amount of the animals have not met the technical criteria set out in the Ministerial Decree number 027-2007, issued in September 2007 by the Ministry of Agriculture and Forestry (Magfor) and the Ministry of Development, Industry and Trade (Mific)", reported Laprensa.com.

National Congress for Farmers and Ranchers

August 2012

Every five years the National Union of Farmers and Ranchers in Nicaragua celebrates a National Congress, in order to discuss strategies for the next five years.

A statement from the National Union of Farmers and Ranchers of Nicaragua (UNAG) reads:
UNAG has always chosen September 03 to celebrate its National Congress in honor of National Farmers' Day.

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