Hurricane Ida caused more than half a billion dollars in damage to Louisiana’s agricultural industry, according to Estimates released on Thursday by Louisiana State University.
big picture: Ida was a horrific event that battered the Mid-Atlantic, Northeast and South last month and is expected to take the double-digit economic toll in the billions.
description: LSU estimated that the state’s agricultural industry suffered $584 million in damages, including estimates for impacts “yet out of date, such as lower yields for crops that remain on the farm during storms and Harvesting hasn’t happened, and production costs are likely to increase.”
- The lumber industry affected 168,000 acres of trees – an estimated $300 million worth.
- Most fallen wood cannot be saved. According to the report, less than 2% of the lumber that fell during the state’s 2020 storms could be sold.
- Sugarcane saw an estimated $35.4 million hit, representing 7% of the industry’s annual value.
By numbers: The weather phenomenon has killed more than 60 people north from Louisiana to Connecticut.
what to watch: Economists expect these developments to put pressure on GDP.
go in: Hurricane Ida’s Economic Toll
- What we know about Hurricane Ida’s energy impact