Panama: Agricultural Insurance Subsidy Removed

DAL Resolution No. 228-ADM-2012 September 19, 2012, removes the subsidy on insurance policies on production from the program for agricultural competitiveness and its trust.

Tuesday, October 2, 2012

Agricultural producers must now pay 100% of the cost of the policies they take out to protect their investment and not 50%.

With the subsidy the state assumed 50% of the cost of the insurance premium and and the remaining 50% was paid by the producer.

"Oscar Osorio, head of MIDA, said by telephone from Belgium that support was removed at the request of the producers. Yet in the industry it has been said that this decision will end up plunging the activity into crisis", writes Aet Elisa Tejera for Prensa.com

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