As of the beginning of 2024, the losses incurred of the agro-industrial complex amount to $364.5 million

After Russia's full-scale invasion, Ukrainian farmers have suffered significant losses and faced numerous challenges. As of early 2024, damages to the agribusiness sector alone amount to USD 364.5 million.

This was reported by Acting Minister of Agrarian Policy and Food of Ukraine, Taras Vysotskyi, during an online presentation on the state of the agribusiness sector at a meeting of the European Free Trade Association (EFTA).

He emphasized that since 2022, sown areas have decreased by 25%. In 2021, there were 28.5 million hectares, but by 2023, this area had reduced to 22.5 million hectares. Agricultural producers have lost property, 175,000 square kilometers are considered potentially mined, and there have been problems with logistics and the export of agricultural products.

"Undoubtedly, these issues affect the activities of the agricultural sector and the ability to trade products, as Ukraine is an export-oriented country. However, with the support of international partners and the Armed Forces of Ukraine, we have restored logistics. Currently, about 87% of Ukrainian agricultural products are exported by sea. In 2023, farmers produced a good harvest and exported products worth USD 22 billion," noted Taras Vysotskyi.

He also stressed that the war continues, and the logistics situation may change. Therefore, it is crucial for Ukraine to maintain access to global markets.

The Acting Minister emphasized that the Ukrainian agricultural sector needs support for recovery and further development. Hence, Ukraine is awaiting a positive decision from international partners regarding the use of frozen Russian assets to compensate for the losses.

Taras Vysotskyi expressed gratitude for the extension of duty-free and quota-free trade with the EU until June 2025, noting that the EU is Ukraine's largest partner in agricultural trade. He also highlighted that Ukraine is actively implementing European requirements into national legislation.