First auction for lease of state agricultural land held - Ministry of Agrarian Policy

As part of the Land Bank project, on October 1, the first auction for the lease of agricultural land was held in the Prozorro.Sale system.

This is stated in the message of the Ministry of Agrarian Policy and Food, the Ukrainian News agency reports.

According to the report, 14 participants competed for a plot of more than 115 hectares in Vinnytsia.

The winning bid for its lease amounted to over UAH 3 million.

In total, on October 1, the State Property Fund of Ukraine will hold 16 land auctions on the Prozorro.Sale platform.

At the same time, by the end of the year, the SPFU plans to put up for electronic auctions almost 100,000 hectares of state agricultural land in 20 regions of Ukraine.

"To implement the project, the fund created LLC State Land Bank - the first state operator of agricultural land, which is 100% owned by the state. The area of ​​land plots that can be rented varies from 1 ha to 4,000 hectares. Each land plot is exhibited at an online auction by separate lot, which allows renting both large and small areas. The starting price at the auction is 12% of the regulatory monetary value of the land," the message says.

As the Ukrainian News agency earlier reported, the State Property Fund created the first state operator of agricultural land.

The State Property Fund estimates the total amount of state agricultural land at 806,000 hectares.