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Damage to Ukraine's agricultural sector from Russian full-scale invasion reaching $10 bln – NAAS
KYIV. Jan 10 (Interfax-Ukraine) – The total direct damage caused to the agricultural industry of Ukraine due to the full-scale Russian invasion amounted to $9.3-9.8 billion by the end of 2022.
As reported on the website of the National Academy of Agrarian Sciences of Ukraine (NAAS), this figure includes damage from the blockade of Ukrainian seaports and forced changes in the logistics of export transportation ($7.5–8.0 billion), the cost of last year’s unsold grain ($0.5 billion) and the cost of warehouses and granaries destroyed or seized by the invaders ($1.3 billion).
According to the National Academy of Agrarian Sciences, the figure of damage to the agricultural sector of Ukraine for 2022 in the amount of $9.3-9.8 billion is almost equal to the total profit of the country’s agricultural enterprises in 2020 and 2021.
As reported with reference to the Center for Food and Land Use Research of the Kyiv School of Economics (KSE Agrocenter), the total amount of indirect losses inflicted on the agricultural industry of Ukraine due to the full-scale invasion of the Russian Federation amounted to $34.25 billion for the period from February 24, 2022 to September 15, having increased by 47% compared to the middle of June, or $10.8 billion.
At the same time, direct losses of the Ukrainian agribusiness due to Russian aggression as of September 15, 2022 were estimated at $6.6 billion, or 23% of the total value of Ukrainian agricultural assets.
According to the KSE Agrocenter study, 54% of the indirect losses of the country’s agribusiness fell on the factors of shortfall in income due to lower prices for foodstuffs exported by Ukraine and problems with its export abroad – $18.5 billion. Other factors were the reduction in crop production – $14.2 billion (34% of total losses), an increase in agricultural production costs due to an increase in the cost of fertilizers and fuel – $862 million (2.5%), a decrease in livestock production – $348.7 million (1%) and a decrease in the production of perennial crops – $322 million (less than 1%).
