Browse Data and Analysis

By early April 2023, many Ukrainian official agencies and private companies published their end-of-the-year results. This report provided valuable insight into wartime macroeconomic and agricultural developments.

The area planted in sugar beets in MY 2023/24 is forecast marginally higher as some farmers will likely switch to growing beets in hopes of better returns. Despite this increase in acreage, beet sugar production is projected to remain flat year-to-year at 3 million metric tons because of drought conditions.

In the past year, meat and milk prices have skyrocketed due to a variety of factors, among which are insufficient cattle inventories, high input costs, semi-effective government policies, and limitations on importing meat and live animals.

The full-scale invasion launched by Russia in February 2022 sent seismic shocks throughout the Ukrainian economy, with agriculture bearing a direct impact. It led to a breakdown of farming operations due to the fighting and shelling on farm lands, while crippling agricultural logistics out of the country, leaving farmers unable to sell their crops at reasonable prices.

Turkey’s grain sector continues to grapple with different challenges, the most recent of which are earthquake and drought.