According to a report published on Monday by the Insurance Fund for Natural Risks in Agriculture, global warming caused some NIS 300 million ($96.5 million) of damages to Israeli agriculture last year. The Insurance Fund for Natural Risks in Agriculture paid out five times multi-year average to compensate fruit farmers whose crops didn’t get their necessary cold hours.
The hardest-hit sector was fruit, especially summer fruit such as peaches, nectarines and plums, which, deprived of a winter cold snap, failed to develop properly, causing widespread shortages in summer. The fund paid out five times the multi-year average in compensation to fruit farmers whose harvest was poor.
The compensation paid to farmers, in general, stood at around NIS 170 million ($55 million) per year just a decade or so ago.