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This paper examines the impact of the macroeconomic turmoil, in particular the COVID-19 pandemic and the Russian-Ukrainian war (RUW) in Ukraine, on Ukrainian agroholdings.Before the full-scale Russian invasion, Ukraine was a major global exporter of agricultural commodities, playing a crucial role in global food security and contributing significantly to the national economy.However, the outbreak of war in Ukraine brought with it unprecedented challenges such as loss of assets, damage to infrastructure, labour shortages and more.Despite these adversities, the Ukrainian agricultural sector remains resilient, attracting investment and maintaining its global presence in agriculture.This study aims to comprehensively analyse the resilience and vulnerability of Ukrainian agroholdings before and after these shocks.Our analysis shows different responses to the pandemic and war shocks, with agroholdings being resilient during the first shock but suffering significant setbacks during the second shock.These results underline the crucial role of the Ukrainian agricultural sector and provide valuable insights into its adaptability under turbulent macroeconomic conditions.
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