Russian farmers have increased the volume of crop insurance by 25%, as reported by the National Union of Agricultural Insurers (NSA).

During the spring sowing campaign in Russia, farmers signed insurance contracts for an area of over 6.2 million hectares for grain crops, which is about 25% of the total area of 24.7 million hectares of spring-sown cereals planted across the country. This information was provided by the National Union of Agro-insurers.

Overall, according to NAU data as of August 1, 2024, Russian farmers signed insurance contracts for an area of 9.2 million hectares for spring crops. In addition to grains, oilseeds were also insured on an area of 1.8 million hectares and legumes on an area of over 0.5 million hectares. Another 0.6 million hectares are accounted for by technical, fodder, and vegetable crops.

According to NAU estimates, taking into account about 6 million hectares of winter crops insured last fall, the total coverage of agricultural crop insurance in Russia at present should be at least 18% of their total area, exceeding last year's 15%. The expansion of crop insurance protection will continue for both grain crops and other groups of agricultural crops," commented NAU President Korney Bizhdov.

According to the published data by Rosstat in early August, the sown areas under agricultural crops, including grains and legumes (spring and winter), amounted to 46.1 million hectares, representing the largest share of the total sown area of 80.185 million hectares in farms of all categories in Russia in 2024.