The Ukrainian agricultural sector has suffered over $80 billion in losses due to Russia’s war, says a new study by the Kyiv School of Economics conducted in collaboration with the World Bank.
Ukraine is one of the world’s top agricultural producers and exporters and plays a critical role in supplying oilseeds and grains to the global market. In 2021, agricultural products totaled $27.8 billion, accounting for 41 percent of the country’s $68 billion in overall exports, as per the US Department of Agriculture.
Considering the scale of damage Russian aggression inflicted on Ukrainian agricultural producers, the overall reconstruction and recovery needs for the next ten years amount to $56 billion. The priority needs for the year 2024 are estimated at $435 million, with the majority already covered by donor financing.
In the study, the total value of destroyed assets exceeds $10 billion, marking an 18% increase from the same assessment conducted in April 2023. The most substantial category of losses is the damaged and destroyed agricultural machinery, amounting to $5.8 billion and constituting 56.7% of the overall losses.
As a result of the invasion, approximately 181,000 units of agricultural machinery and equipment have been partially or entirely damaged.
The damage incurred from the theft or destruction of already produced goods is estimated at $1.97 billion, and losses from damaged grain storage facilities amount to $1.8 billion, the study concludes.
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