Category: Agriculture

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The minimum support price (MSP) acts basically as an insurance cover to cultivators against the possibility of post harvest crash in market prices. More positively, it serves as an incentive to farmers and stimulates higher production by encouraging the use of modern inputs and by inducing investment in cost-reducing technology. The MSP system was started in India in the mid-1960s to create a favourable incentive environment for the adoption of High-Yielding Varieties (HYVs) of wheat and rice, which were seen to possess a vast potential for raising grain production. After about one…

The overview of agricultural insurance in selected developed and developing economies. Although there are two kinds of products are offered in the German insurance market: the crop hail insurance and the livestock insurance. Crop hail insurance has a long history in Germany. This product was first introduced in 1733 and is mainly marketed by mutual insurance companies and cooperatives. Sixty percent of the total crop area in the country is insured against hail. Cattle insurance was introduced in Germany in1830. Many mutual insurers have commercialized livestock insurance since the eighteenth…

As many of the world’s poor households are living in environments where risk is a daily reality. agricultural insurance is re-emerging as a topic of interest to farmers, policy makers, insurance companies, and development finance institutions. If we can overview of agricultural insurance in selected developed and developing economies then it is observed that the selected countries gives crop and livestock insurance with and without subsidies from the governments. There are seven identified developed economies that do not give subsidies in their agriculture insurance namely Australia, Germany, Greece, Hungary, New…

According to C.A. Edwards of the U.S. Agency for International Development, “Sustainable agriculture is a management system for renewable natural resources that provides food, income, and livelihood for present and future generations while maintaining or improving the economic productivity and ecosystem services of these resources.” In many developed nations, the concept of sustainable agriculture blends basic economic concerns, conservation, and maintenance or improvement of the resource base. The motivation is derived primarily from environmental and ecological concerns. In developing countries, farmer’s immediate concerns include improving crop yield, increasing crop diversity,…