In three months, Land Bank auctions have already brought the state ₴343.7M in annual revenue.

The Ministry of Agrarian Policy is satisfied with the results demonstrated by the Land Bank, which launched in Ukraine on October 1 2024. In three months, 266 successful auctions were held, covering a land area of ​​23,296 hectares across 15 regions. The expected effect of the sublease program was ₴757M in annual revenue for the budget.

According to the Minister of Agriculture Vitaliy Koval, 175 agreements have already been concluded to sublease land with an area of ​​10,847 hectares, which provides ₴343.7M in annual revenue from VAT. The average sublease cost is ₴31,700 ($773) per hectare.

Competition among participants is also impressive, Koval added. During the auctions, initial lease values increased by 760%. The biggest competition at the auctions was observed in the Vinnytsia region, with an average of 22 participants per lot, compared to the Kirovohrad region, with 11 participants per lot. The record holder was a plot in the Cherkasy region, where the sublease value reached ₴47,077 ($1,150) per hectare.

The first lots with new land plots this year will appear next week.