The lease of 1,200 hectares of state farmland brought ₴35M to Ukraine’s coffers.

The main takeaway from the first month of auctions by the Land Bank is ₴34.7M including VAT paid to the budget and 19 concluded agreements with winners from six regions. As a result of these auctions, more than 1,178 hectares of land were taken out of the shadows and leased for 14 years to farmers interested in effective long-term cultivation, the State Land Bank reported.

The average leasing price per hectare was ₴29,600 ($721) per year. The highest average price was recorded in the Vinnytsia region – ₴36,900 ($900), while the lowest was in Transcarpathia – ₴5,176 ($126).

It should be noted that at the beginning of the week, the state held 10 auctions for the sublease of state agricultural land in the Kyiv and Zaporizhzhia regions. The total area of ​​land put up for auction reached 620.3 hectares, with an average price per hectare of ₴22,821 ($556). During the auctions, the initial ₴1.55M total value of the land plots increased by 810% to ₴14.2M.