The crop insurance market in Latin America reached a value of around USD 3.12 billion in 2022. More even, the objective market is expected to strengthen further in the forecast period of 2023-2028 at a sturdy pace. The impact of climatic changes and crop production loss due to pests are contributing to this increase in market expansion.
Principal products protected by this insurance are rice, plantains, bananas, beans, fruit trees, vegetables grown in protected habitats, and a variety of other crops.
Source: EIN Presswire