Ukraine's agricultural sector has suffered round $80 billion in losses because of Russia's full-scale invasion, Agriculture Minister Vitalii Koval stated on Feb. 25 throughout a World Financial institution report presentation.
This determine contains not solely direct injury but in addition oblique injury attributable to disrupted logistics, elevated fertilizer and gas prices, bills for land reclamation and demining, and occupied territories, the minister added.
"I'm satisfied that the restoration of the agricultural sector should start as we speak," Koval stated. "A key precedence helps farmers in front-line territories."
The agricultural sector performs a significant function in Ukraine's economic system, comprising roughly 20% of the nation's GDP, Koval stated earlier.
After Russia's full-scale invasion broke out in 2022, Ukraine's beforehand dominant share of non-agricultural exports declined considerably.
In accordance with a examine by the German-Ukrainian Agricultural Coverage Dialogue challenge, after Russia’s full-scale invasion started, Ukraine’s non-agricultural exports have declined considerably, whereas agricultural meals exports have remained comparatively secure, offering very important assist to the Ukrainian economic system.
Koval beforehand stated that farmers, along with agro-processors, produce about 60% of export revenues, taking part in a key function within the Ukrainian economic system amid the full-scale warfare.
All through the full-scale warfare, Moscow has tried to impede Ukraine's agricultural exports by blockading the Black Sea and attempting to switch Ukrainian merchandise in world markets with its personal, together with grain looted from occupied territories.
Regardless of these challenges, Ukraine reopened a maritime commerce hall in 2023, enabling the revival of its agricultural exports. In 2024, Ukraine's agricultural exports reached $24.5 billion, approaching pre-war ranges and attaining the second-highest report after 2021's $27.7 billion. Final 12 months, agricultural exports accounted for 59% of the nation's complete exports.
The Kyiv IndependentTim Zadorozhnyy