From December 8 to 12, 20 auctions for sublease of state agricultural land were held through the Prozorro.Sales electronic system. The auctions took place in Kharkiv, Zakarpattia, Odesa, Mykolaiv, and Cherkasy regions. The total area of the land plots offered amounted to 468.53 hectares, ProAgro Group reports.

The total revenue from the auctions amounted to UAH 5.7 million, with an additional UAH 1.1 million in VAT, resulting in a total economic effect of UAH 6.8 million.

During the week, participants submitted 48 bids. The average sublease price per hectare reached UAH 12,191, and the average land plot price increased 3.2 times compared to the starting bids.

The most expensive lot of the week was a land plot in Cherkasy region covering 128.27 hectares. Five participants competed for the sublease, raising the starting price 4.5 times to UAH 3.2 million. The sublease price of this plot reached UAH 25,063 per hectare.

Previously, in mid-November, the most expensive lot in the “Land Bank” auctions was a plot of almost 100 hectares in Kharkiv region, whose price increased 8.5 times to UAH 4.1 million, amounting to UAH 41,671 per hectare.