Agriculture was responsible for 40% of Ukraine’s exports before the war. (Photo by Julia Kochetova, Bloomberg News) |
Farmers need seeds, which Ukrainian farmers struggle to afford. "Seed giants such as Bayer and Corteva have stepped in to help supply farmers with products for this year's harvest. Bayer said it had donated about 40,000 bags of corn and vegetable seed, worth about $2 million," Thomas and MacDonald write. "Bayer has said it was investing some $38 million in a seed plant in the country. Corteva said it intended to increase corn-seed production in the region by 30% over the next five years."
Ukrainian farmers also need export help. "Grain merchants including Cargill, Archer Daniels Midland and Bunge have said they intended to keep shipping crops from the country," the Journal reports. Japan and Canada have also delivered aid, and "foreign banks, including Credit Agricole of France and Austria's Raiffeisen Bank International have taken part in a government plan that has lent more than 5,000 farmers about $2.43 million," Thomas and MacDonald report. "For many Western companies, the help could bolster crucial partners
struggling during the war. It also could preserve or strengthen these
companies’ reputations with local farmers and their position in the
country, which is an important agricultural exporter, analysts said."
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