Economics and Rural Development, Volume 6, Number 2

AN ASSESSMENT OF THE IMPACTS OF THE GLOBAL FINANCIAL AND ECONOMIC CRISIS ON THE AGRO-FOOD SECTOR OF KYRGYZSTAN

Asyl Undeland, Kenesh Shapakov, Aizhan Kochonova, Abderrahmane Berrada Gouzi, Jyldyz Tabaldieva
The Rural Development Fund

Abstract

In mid-2009 the Food and Agriculture Organization of the United Nations (FAO) commissioned some urgent research aimed at a snapshot assessment of the impacts of the global financial and economic crisis on the agro-food sector of Central and Eastern Euro-pean and Central Asian countries. The objective was to propose policy options which can be applied by the FAO and other public au-thorities to lessen the undesirable effects of the current or future crises in the agro-food sector. This paper reports the results of the re-search conducted in Kyrgyzstan on three agricultural sub sectors: wheat, sunflower and dairy. About 70 in-depth interviews were conducted with major stakeholders such as farmers, traders, processors, banks and government officials in different regions of the country. The crisis had an impact on Kyrgyz agro-food sector value chains, though different stakeholders responded differently. Agricultural producers and processors were affected by the crisis, and farmers were affected more than other stakeholders. By con-trast, the impact on the banking sector vis-à-vis agriculture was quite minor: a small increase the risk premium on credit. The Gov-ernment has been making efforts to mitigate the consequences of the crisis, support local producers, and especially farmers growing wheat, but these have been largely ineffective.

Keyword(s): Kyrgyz Republic, financial and economic crisis, agro-food sector, wheat, sunflower, dairy


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