The heat will destroy up to 20% of this year’s harvest, but high prices can compensate Ukrainian farmers for this.

As analysts note, due to the abnormal summer heat most farmers expect a drop in crop yields compared to previous years.  A new wave of abnormal weather threatens Ukraine this month.

Farmers admit that declines in the planned soybean, sunflower, and corn yields by at least 20% cannot be avoided. A 30% decrease in late crop yield is expected in the Kirovohrad region. In Vinnytsia, soybeans lost 33% of their potential. The Chernihiv region says it will lose 20-30% of its harvest. The heat is hurting crops across Europe, pushing up prices. As a result, agrarians may be able to compensate for harvest losses through high prices.

Currently, corn is traded at ₴7,400 per ton, in July ₴6,700, and in November 2023 ₴4,000. Finally, the new harvest sunflower price range does not have a clear framework, but demand prices are increasing and amount to ₴18,500-20,000 per ton. Experts predict that prices will probably continue to rise.