According to the new FAO report, between 2005 and 2015 natural disasters cost the agricultural sectors of developing country economies a staggering $96 billion in damaged or lost crop and livestock production.
Half of that damage, $48 billion worth, occurred in Asia, says the report. Drought – which recently has battered farmers in all corners of the globe, North, South, East and West – was one of the leading culprits. Eighty-three percent of all drought-caused economic losses documented by the study were absorbed by agriculture, with a price tag of $29 billion.
Access the report here.
