Louisiana agriculture, forestry and fisheries suffered an estimated $950 million in losses and damages from Hurricanes Gustav and Ike, according to the Louisiana State University AgCenter. The figure is expected to rise as loss calculations continue.
Of the $950 million, up to $760 million is lost revenue to state farmers, ranchers, forest-based companies and fishermen, with an additional $175 million to $200 million in damage to equipment and infrastructure.
LSU AgCenter Chancellor Bill Richardson says the losses are a major problem for farmers already operating at the margin. He says the ripple will extend from farms to agriculture-dependent communities and, eventually, be felt throughout the state’s economy. He says the effects could be seen for years.
Crops hardest hit, in terms of lost revenue, include soybeans, cotton, sugarcane and rice. The LSU AgCenter reports that Gustav cost cotton farmers an estimated 58 percent of their yields, or about $136.6 million. Before Gustav hit, 60 to 90 percent of the bolls on the state’s cotton were open and ready for harvest, the AgCenter said.
Topics Catastrophe Natural Disasters Louisiana Agribusiness Hurricane
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