Agroinsurance

NEWS

Latvia - Agricultural sector reports €359 million in drought damage

24.08.2018 209 views

According to Latvia’s Ministry for Agriculture, farmers in this Baltic country have suffered €359 million euros of damage from this summer's prolonged dry spell and unusual heat. This was stated in a report handed to the European Commission this Wednesday.

According to the Ministry's estimates, additional forage production costs stemming from the prolonged drought have reached 100.5 million euros, 80 percent above the average costs recorded over the past three years.

Due to the rainless summer, revenues from fruit, berries, vegetables and potatoes are expected to shrink by 44 percent from the last three-years' average to 28.4 million euros in yet another blow to the Latvian fruit growers, who already suffered significant losses from springtime frosts and autumn floods in 2017.

The weather conditions increased the fire hazard in Latvia's forests and peatlands, sparking a series of major wildfires that have cost forest owners 92.9 million euros in total, the Ministry said in the report.

The report is based on preliminary estimates, and the drought damage figure is to be updated in the coming months. The European Commission asked all European Union member states to report on this summer's overall impact on agricultural production by the end of August. Source - http://www.freshplaza.com

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