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Price Insurance for Agricultural Products: International Experience and Relevant Reference( No 58, 2015)


By Zhu Junsheng & Tian Hui, Research Team on “Development of China’s price insurance for agricultural products”, Finance Research Institute of DRC

Research Report No 58, 2015 (Total NO 1461) 2015-12-28

Abstract: Internationally speaking, income insurance in the United States is the most typical product in planting price insurance. Price insurance for live pigs in the United States and Canada is the most typical price insurance product for breeding industry. After outlining the development history of these two products, this report presented related experience for China’s price insurance reference, mainly including the efforts to be made by the government in the following aspects: 1.Actively supporting insurance companies in developing various price insurance products, in order to meet the needs of farmers, especially new business entities, to shift price risks; 2.Fully understanding the influence of different national conditions on the forms of price insurance products, and using innovative programs, for example, index insurance, and exploring a development model that is really suitable for China’s price insurance; 3. Enriching the system of price insurance products; 4. Proactively utilizing price discovery function of futures market; 5. Improving technical conditions of price insurance for agricultural products; 6. Innovating the ways of premium subsidy; and 7. Establishing an effective mechanism for protection of agricultural products.

Keywords: price insurance, planting, breeding, international experience