16:37 13.07.2022

Russia steals grain and vegetable oil worth $613 mln from Ukraine – KSE Agrocenter

2 min read
Russia steals grain and vegetable oil worth $613 mln from Ukraine – KSE Agrocenter

The total value of grains, oilseeds and vegetable oils stolen by the Russian Federation since the beginning of the invasion of Ukraine is approximately $613 million.

Roman Neiter, an expert from the Center for Food and Land Use Research at KSE Institute, spoke about the theft of agricultural products by Russians, mainly in Kherson and Zaporizhia regions, during the discussion "100 days after the Russian invasion: the current state and prospects for food security and agricultural markets in the world."

The expert stressed that during the war, the Russian invaders damaged or completely destroyed 4 million tonnes of containers for storing crops. Another part of the granaries is located in the temporarily occupied regions.

In addition, the Ukrainian agro-industrial complex was negatively affected by the Russian blockade of Ukrainian seaports, which significantly complicated the export of agricultural products and disrupted existing supply chains. This led to a 33.7% drop in the weighted average prices of wheat, barley, corn and vegetable oil in May 2022 compared to the pre-war period, while world prices for agricultural products rose sharply.

Neiter recalled that in June, KSE Agrocenter estimated the total amount of losses due to the war in Ukraine's agriculture at $27.6 billion.

As reported, the total amount of direct losses caused to the agricultural industry of Ukraine as a result of the full-scale invasion of the Russian Federation amounted to $4.3 billion by mid-June. At the same time, the country suffered the largest losses due to damage to farmland and the inability to harvest in war zones - $2.14 billion.

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