The Ministry of Agriculture, under the leadership of Minister Carlos Fávaro, has proposed a budget of approximately BRL 2 billion for the Rural Insurance Premium Subsidy Program (PSR) in 2024. This proposal is in response to the need to strengthen the PSR due to the impact of climate change and frequent crop losses. The projected budget for 2024 is almost the same as the budget for 2023, which was BRL 1.06 billion. Minister Fávaro intends to propose a BRL 500 million extra for 2023 to boost help for growers facing higher insurance rates because of agricultural losses.
Source: Globo Rural