Financials, Automotive, Technology May 27, 2022 08:53 PM (GMT+8) · EqualOcean
The Ministry of finance, the Ministry of agriculture and rural areas and the China Banking and Insurance Regulatory Commission jointly issued the notice on launching the pilot of soybean full cost insurance and planting income insurance, specifying that starting this year, the pilot of soybean full cost insurance and planting income insurance will be launched to help enhance the enthusiasm of soybean planting, promote soybean oil production, and serve to ensure the safety of national oil supply. According to the notice, through the pilot of soybean full cost insurance and planting income insurance, we will further improve the level of agricultural insurance, stabilize the income of farmers from planting beans, and help improve the self-sufficiency rate of soybean oil in China. The pilot period is from 2022 to 2024. The pilot areas are four banner counties in Inner Mongolia Autonomous Region and six counties in Heilongjiang Province. The subject matter of the insurance is soybean, the insurance varieties are full cost insurance and planting income insurance, and the insurance protection objects are insured bean farmers, including farmers with moderate scale operation and small farmers.
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