The Ukrainian agricultural sector may lose $3 billion in 2023

Losses of the Ukrainian agricultural sector in 2023 may reach 3 billion dollars.

This year, the losses of the agricultural sector of Ukraine may amount to $3 billion. This was stated in an interview with Ukrinform by Oleh Khomenko, the general director of the Ukraine Agricultural Sector.

“According to UKAB’s calculations, this year’s sector losses, according to optimistic forecasts, will reach approximately 3 billion US dollars. And this is an optimistic scenario,” he commented.

Khomenko added that in 2023, the production of grain and oil crops in Ukraine will be unprofitable, with the exception of soybeans. In particular, as of October, wheat production is unprofitable by $36/ton, barley – $83/ton, corn – $56/ton, sunflower – $39/ton.

According to the general director of UKAB, a significant factor affecting the profitability of the agricultural sector is complicated export logistics. Ukrainian agrarians could gain profits if it were to become cheaper.

Read also: Ukraine reduced export of agricultural products by 9 million tons