Louisiana agriculture, forestry and fisheries suffered an estimated $950 million in losses and damages in this month’s hurricanes, according to the Louisiana State University AgCenter. And the figure, officials say, is expected to rise.
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. However, calculations of losses continue.
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.
Topics Louisiana Agribusiness
Was this article valuable?
Here are more articles you may enjoy.
Lockton Named in NBA Investigation Into Clippers Salary Cap Circumvention 
Florida Grand Jury Finds DeSantis Admin Misused $10M; Yaworsky Signed Off on it 
Willis Towers Watson Accuses Lockton of ‘Smash and Grab’ of Construction Team 
Brightline Lands $350 Million Assured Loan in Case of Bankruptcy 
