• 24/02/2024 17:59

Losses of the Ukrainian agricultural sector this year could amount to $3 billion – expert

Збитки українського агросектору цьогоріч можуть сягнути $3 мільярдів - експерт

Exclusive According to forecasts of the Ukrainian Agricultural Business Club association, in 2023, losses in the Ukrainian agricultural sector, according to an optimistic scenario, could amount to about $3 billion.

UCAB General Director Oleg Khomenko spoke about this in an interview with Ukrinform.

“According to UCAB estimates, losses in the sector, according to optimistic forecasts, will reach approximately $3 billion. And this is an optimistic scenario,” he said.

Khomenko noted that this year the production of grain and oilseeds in Ukraine is unprofitable, with the exception of soybean production. In particular, according to the association, wheat production is unprofitable by $36 per ton (as of October of this year), barley – $83 per ton, corn – $56 per ton and sunflower – $39 per ton.

“Soybeans maintain profitability thanks to processing and demand for processed products. Unfortunately, farmers today produce all other crops at a loss,” the expert explained.

Khomenko emphasized that the most significant factor influencing the profitability of the agricultural sector is the significantly complicated export logistics. If it became cheaper, Ukrainian farmers would be able to receive income.

As Ukrinform reported, as of September 2023, direct and indirect damage to Ukrainian farmers due to the war exceeded $40 billion.

www.ukrinform.ua

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