Subject to the relevant reforms, the cost of renting agricultural land may increase by five times, said President of Ukraine Petro Poroshenko on March 25 this year during a meeting with teachers and students of the National University of Life and Environmental Sciences of Ukraine in Kiev.

According to Petro Poroshenko, increasing rents for the use of land can increase the standard of living of rural residents. Already today, the state leases its own land to tenants, sometimes twice as expensive as private traders do.

We must begin to apply this pricing policy in relation to land owned by peasants. The dictatorship of large landowners can only be abolished by holding open auctions with the same initial conditions. Through reforms, it is possible to increase the cost of renting land allotments by five times, said Petro Poroshenko.

Over the course of several years, the average rental rate on land has increased from 3% to 10% of the monetary value of land, but so far it remains too low, Poroshenko said.

On average, the cost of renting land from equity holders of Ukraine today is € 52 / ha. This indicator does not correspond to reality. In our country, land costs € 52, and in Lithuania, where its quality is lower - € 81, the President of Ukraine added.