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Ukraine's top commodities in decrease 1,000 days into war with Russia

Russia's fullscale intrusion of Ukraine reaches its 1,000 th day on Tuesday, and the conflict has wrought considerable damage to the nation's large agriculture and steel sectors.

Following are some realities about production, processing and export losses Ukraine has suffered as an effect of war.

FARMING

Before the Russian intrusion of Ukraine in 2022, Ukraine was the world's 6th largest producer of corn and 7th biggest manufacturer of wheat. It also represented more than 30% of worldwide sunflower seed production and dominated the worldwide sunoil market, according to USDA data.

The sector represented 10% of Ukrainian GDP and 42% of its exports in worth terms.

But grain harvests have actually reduced, partially due to the fact that area has actually ended up being unattainable through Russian profession or risks related to the war and partially because crop yields have actually declined with materials like fertiliser in short supply.

Ukraine has lost control of 60,000 square kilometres, or 18%, of its cultivated land, according to estimations by the Kyiv School of Economics (KSE).

The farm ministry said Ukraine's sowing location fell 25% in 2023 to 21.8 million hectares compared to 28.6 million in 2021. The 2024 sowing location remained the same.

Ukraine's grain harvest totalled 84 million metric loads in 2021 but was up to 53.9 million in 2022, 59.8 million lots in 2023 and might total 54 million loads in 2024, main information revealed.

Trade information showed grain exports in monetary terms fell to $ 8.3 billion in 2023 from $12.3 billion in 2021, and for the 9 months of 2024 were $7.1 billion.

KSE said it estimated the losses from the decrease in production at 48.6 million tons for grains and 8.7 million lots for sunflower seeds in the 2022-2023 duration.

STEEL

Ukraine was among the world's top 15 steel manufacturers before the war, according to steel manufacturers' union Ukrmetalurgprom, however dropped to 25th location after 2 significant steel mills in Mariupol in southern Ukraine were inhabited and damaged.

According to Ukrmetallurgprom, Ukraine produced 21.1 million tons of pig iron, 21.3 million lots of steel and 19 million heaps of rolled steel products in 2021.

Steel output fell to 6.2 million loads in 2023, while pig iron production amounted to simply 6 million heaps.

In January-October 2024, Ukrainian plants increased steel output by 25.7% to 6.5 million tons and pig iron by 21.9% to nearly 6 million heaps.

The union stated metallurgical product exports totalled 3.68 million tons in January-October versus 19.6 million lots in 2021. In monetary terms, ferrous metal exports sank to $2.4. billion in 2023, from $14 billion in 2021.

PORTS

Throughout Russia's invasion, Kyiv lost control of all of its. ports in the Sea of Azov and combating triggered prolonged blockades. of Black Sea ports, badly restricting its access to world. markets.

Ukrainian Seaport Authority's information showed that ports managed. 153.07 million tons of freight in 2021, while the volume was up to. 62 million tons in 2023.

The Authority stated that in January-October 2024, total freight. turnover from Ukrainian ports reached 82.3 million lots.

(source: Reuters)