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Spain - Agricultural insurance losses reached EUR 632.9 million in 2020

The agricultural insurance losses reached EUR 632.9 million in 2020, according to data provided by Agroseguro. This is the fourth consecutive year with agricultural losses exceeding EUR 600 million.

At the beginning of the year, storm Gloria followed by repeated hailstorms have damaged more than 427,300 hectares of crops, with losses reaching EUR 241.3 million. Additionally, the damage caused by rains and floods estimated at EUR 78.9 million, while losses caused by windstorms reached EUR 34.5 million. The total area damaged exceeded 893,500 hectares.

Fruit growers were affected the most, and received EUR 132.4 million of compensation, while vegetable producers received EUR 68.9 million. They were followed by citrus producers, with EUR 53.3 million of the compensation; the wine grape producers – EUR 44.3 million; and extensive herbaceous crops – EUR 43.1 million.

The livestock insurance compensations due to accident and illness has reached EUR 55.7 million, with additional EUR 78.6 million for the disposal and destruction of dead animals. The claims in aquaculture insurance increased to EUR 25.7 million, mainly due to the damage caused by the storms during activity of storm Gloria.

By region, Valencia and Castilla-La Mancha have received EUR 92.6 million and EUR 85.4 million of payouts, respectively. They were followed by Catalonia (EUR 76.5 million), region of Murcia (EUR 74.2 million), Extremadura (EUR 62.3 million) and Aragon (EUR 61.7 million).

Source – https://agroinsurance.com
Original article – https://agroseguro.es