Battle for Hectares: What is Happening at Land Auctions in Ukraine.

Between June 23 and 27, 44 auctions of sublease of state agricultural lands took place in the Prozorro.Sales system as part of the 'Land Bank' program for a total amount of 51.5 million UAH (+ 10.3 million UAH VAT). This was reported by the Ministry of Agrarian Policy and Food.

According to the agency, the lots were presented in the Kharkiv, Transcarpathian, and Poltava regions. The total area of the land plots amounted to 2,474 hectares. During the auctions, participants submitted 133 proposals. The increase in the value of all land plots occurred by 4.2 times from the starting bids. The average cost of subleasing one hectare based on the auction results was 20,823 UAH.

'The open auction system provides farmers with equal access to state land and stimulates healthy competition. Such tools create a real market and contribute to attracting investments to communities. The Land Bank proves its effectiveness and demonstrates real results for the economy,' noted the Minister of Agrarian Policy and Food of Ukraine, Vitaliy Koval.

During the conducted auctions under the 'Land Bank' program, it was possible to sell 2,474 hectares of agricultural land for more than 51 million UAH. This indicates not only the popularity and effectiveness of such an initiative but also the growing interest in Ukraine's agricultural sector and its ability to attract investments for development.