IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

Yes

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 19 Mar 2018 | Removal date: 30 Nov 2018
Still in force

Financial grant

On 16 March 2018, the Ministry of Agriculture, Livestock, and Farming of Brazil announced the new budget to finance the subsidy to contract rural insurance to be released between the months of March and November of this year. The total budget for 2018 was set at BRL 384 million (USD 116.7 million) which represents a decrease when compared to the BRL 400 million (circa USD 121.6 million) approved in 2017.

Of the total amount, at least BRL 115 million (USD 34.9 million) will be granted to contract policies for safflower, maize, wheat and other winter grains; BRL 175 million (USD 53.2 million) for summer grains; BRL 72 million for fruits (USD 21.9 million), BRL 1 million (USD 304,000) for livestock insurance and BRL 21 million (USD 6.4 million)  for other crops.

The rural insurance subsidy is based on the conception that the payment of the insurance premium amount is shared between the producer, a private agent interested in the protection of the crop and the government who finances part of the insurance premium with a grant. 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

011 Cereals
012 Vegetables
013 Fruits & nuts
014 Oilseeds & oleaginous fruits
015 Edible roots & tubers with high starch or inulin content
016 Stimulant, spice & aromatic crops
017 Pulses (dried leguminous vegetables)
018 Sugar crops
021 Live animals
022 Raw milk
023 Eggs of hens or other birds in shell, fresh
029 Other animal products
042 Fish live, fresh or chilled for human consumption
043 Crustaceans, live, fresh or chilled
044 Molluscs live, fresh or chilled
045 Other aquatic invertebrates, live, fresh or chilled
049 Other aquatic plants & animals

Please report this page in case you detect an inaccuracy in its content.