Ukrainian agriculture suffers $40.2B in losses due to Russia's war - KSE

According to estimates by the Center for food and land use research at the Kyiv School of Economics (KSE Agrocenter), the Ukrainian agricultural sector suffered USD 40.2 billion in direct and indirect losses as a result of Russia's full-scale war.

The center reported this on Telegram, Ukrinform says.

It is noted that the Ukrainian agriculture sector suffered USD 8.7 billion in direct losses (USD 2.1 billion more than estimated in November 2022). Most of the losses, namely USD 6 billion, are due to destroyed and damaged agricultural machinery and storage facilities for manufactured products.

Indirect losses amounted to USD 31.5 billion (USD 2.76 billion less than estimated in November last year). Most of the losses in this category were due to a decrease in crop production, which accounted for almost half of all indirect losses (14.3 billion).

According to the center, the industry needs at least USD 29.7 billion to recover.

As reported, according to UkraineInvest, the Government office for attracting and supporting investment, the amount of direct damage caused by Russia to Ukrainian infrastructure, industrial facilities, and production logistics has increased to almost USD 50 billion.