The Kyiv School of Economics' Agrocenter, in collaboration with the World Bank, conducted research to which the Ukrainian agricultural sector suffered more than $80 billion in direct losses and associated damages due to the full-scale invasion of the Russian Federation. The KSE Agrocenter press service reported this on February 21.

"In particular, the total worth of obliterated assets stands at $10.3 bln, marking an 18% increase from April 2023 estimates. Notably, the primary category of losses pertains to damaged and destroyed agricultural machinery, accounting for $5.8 bln, constituting 56.7% of the overall losses," the message reads.

Moreover, in general, about 181.000 units of agricultural machinery and equipment were partially or completely damaged as a result of the invasion.

Experts estimate the damage caused by the theft or destruction of already produced products at $1.97 bln, losses due to damage to granaries – $1.8 bln, damages caused by perennial crops – $398 bln, animal husbandry – $254 mln, aquaculture and fishing – $35 mln.

Meanwhile, the losses, which include the lost income of agricultural producers and the increase in the cost of production, more than doubled compared to the previous review and amounted to $69.8 bln.

Total losses attributed to diminished crop production reach $35.1 bln, while additional setbacks stemming from reduced livestock output amount to $5.6 bln. Moreover, the sector grapples with estimated losses of $24.1 bln due to plummeting domestic prices, alongside an additional $4.4 bln attributed to escalated production costs.

"In light of the extensive damages suffered by agricultural producers in Ukraine, the total requirements for reconstruction and recovery over the next 10 years reach $56 bln," the message summarizes. "For 2024, priority needs amount to $435 mln, with the majority already covered by donor funding."

Source - https://www.apk-inform.com