2024-02-22 02:05:31
Ukraine’s agricultural sector has suffered direct and indirect losses from the Russian invasion to the tune of $80 billion, according to analysts at the Kyiv School of Economics, cited by Reuters. Their previous estimate was $38 billion in losses.
Ukraine is one of the largest producers and exporters of grain, but large arable areas in the east and south of the country have been occupied and mined since the February 2022 invasion.
Based on official government data and other sources, analysts estimate the sector’s direct losses at $10.3 billion by December 2023, up from $7.8 billion in losses a year earlier.
The amount includes destroyed property for 5.8 billion dollars, damage to silos for another 1.8 billion dollars and ruined production for nearly 2 billion dollars, BTA reported.
Indirect damages from foregone production, reduced exports, higher production prices and reclamation of damaged soils totaled about $69.8 billion, according to analysts.