News

Ukrainian agricultural sector losses due to war double to US$80 billion, analysts say

Grains, Cereal & Legumes
Ukraine
Market & Price Trends
Innovation & Technology
Published Feb 22, 2024

Tridge summary

The Ukrainian agricultural sector has incurred approximately $80 billion in losses due to Russia's invasion, as per the Kiev School of Economics (KSE). The direct losses, amounting to $10.3 billion, include damages to equipment, silos, and agricultural products. The indirect losses, estimated at $69.8 billion, are attributed to lost production, decreased exports, increased production costs, and soil remediation.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

KIEV (Reuters) - The Ukrainian agricultural sector suffered almost $80 billion in direct and indirect losses from Russia's invasion, analysts at the Kiev School of Economics (KSE) said on Wednesday. At the beginning of January 2023, analysts had these losses at 38 billion dollars. Ukraine is a major global grain producer and exporter, but large areas of the country's east and south have been fought over, occupied and mined since Russia's invasion in February 2022. Using data from the Ukrainian government and other sources, KSE analysts said the direct losses of the Ukrainian agricultural sector reached 10.3 billion dollars by December 31, 2023, compared with 7.8 billion the previous year. The figure included losses of $5.8 billion from destroyed equipment, $1.8 billion from ...
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