Prime minister Justin Trudeau announced the funding during a G7 meeting in Germany.
Agriculture minister Marie-Claude Bibeau said she let Ukrainian agriculture minister Mykola Solskyi know the help is coming.
“He was very happy to hear the news,” she said.
Solskyi earlier told the House of Commons standing committee that Ukraine needs temporary grain storage.
Russia has continued to destroy grain facilities, including a soybean facility owned by Viterra.
Bibeau said a call for proposals has gone out for the purchase and installation of food or agricultural product storage including mobile silos. That will account for $50 million.
The remaining $2 million will be spent on lab equipment to test for animal diseases and other export requirements.
Ukraine’s grain exports are down by 44 per cent so far this year.