The president of the State Insurance Bank (BSE) estimates that the entity will pay between 80 and 90 million dollars for agricultural policies and described it as the largest claim since the entity’s history.
Jose Amorinpresident of the BSE specified that they are waiting for the harvest to end in order to know exactly how much money the policies will cost the bank, although they estimate a cost of between 80 and 90 million dollars, according to an interview given to the program Country people from Channel 12 this Sunday.
“This is something that never happened for us. since there soy there was never a dry of this volume. And we never had a loss of this magnitude in the history of the Bank”, explained Amorín. “It is the bank’s most important claim, not only in agriculture, whatever it was,” added the president, who specified that since he harvested soybeans, a similar situation had never been experienced.
The president of the entity remarked that, despite the difficulties, the bank is prepared to respond and is working to pay as soon as possible with the aim of appeasing the complications that the agricultural sector could face in relation to the supply chain. Payments.
Amorín explained that they have, approximately, the 60% of rural insurance in the entire market where four other companies are located. “We are all prepared. What we have to do, when a situation like this happens, is to be prepared to pay, and to pay as soon as possible”, he remarked.
soybean losses
Soybean production this year in Uruguay will be barely a third of what was obtained last harvest due to the devastating effects of the extreme drought that not even the recent rains will be able to correct.
This was reported by the Minister of Livestock, Agriculture and Fisheries (MGAP), Fernando Mattos, that, in recent months, he has had to give more bad news than good news. In this way, during the current harvest, barely one million tons of soybeanscompared to the three million obtained a year ago.
This not only directly impacts the local economy and in the agricultural sector, particularly, but it will also visibly affect the export earnings to the country that, during 2022, reached record numbers. The soybean scenario is particularly bleak: the main export item of agriculture and the second in general in goods placed abroad will have a drop in income that no one dares to quantify yet. In 2022, this item contributed 1,992 million dollars of the 13,556 million entered, according to data from Uruguay XXI.
Source: Ambito
