Direct losses to Ukraine's agricultural sector over the two years of war amount to over $10 billion

Over the two years since the beginning of Russia's widespread invasion, direct losses to Ukraine's agricultural sector have exceeded $10 billion. Therefore, it is crucial to restore Ukraine's agricultural sector, as this is essential for ensuring both domestic and global food security.

This was announced by Taras Vysotsky, Acting Minister of Agrarian Policy and Food of Ukraine, during an online presentation at the "Rebuilding Ukraine's Agriculture" conference, which took place within the framework of the Forum for the Future of Agriculture.

According to him, Ukraine is one of the world's leaders in exporting grains and oilseeds. The restoration of the agricultural industry will ensure stability in global food markets.

"Due to Russian aggression, Ukrainian farmers have suffered significant losses. These range from the destruction of agricultural machinery totaling $5.8 billion to the loss and destruction of livestock farms amounting to over $250 million. International food prices increased by approximately 35% in 2022 alone. Only after establishing new export routes did the situation stabilize. Therefore, support is crucial for the restoration of Ukraine's agricultural sector," noted Taras Vysotsky.

The Acting Minister emphasized the need for long-term projects to support Ukraine's agricultural sector. One such initiative is the Ukraine Facility, a financial support program from the European Union.

Taras Vysotsky also highlighted that increasing the production of value-added products contributes to Ukraine's and the European Union's energy security. He mentioned that Ukraine has the potential to produce sufficient bioethanol and biomethane from various agricultural waste materials.

Additionally, Taras Vysotsky underscored the necessity of implementing preferential insurance for agricultural producers.