Ukraine's Farmland: A Third is Controlled by Just Ten Companies
The number of corporate landowners in Ukraine has fallen by a third, signaling a significant shift in the nation's agricultural sector. As of today, there are 192 companies owning over 100 hectares of land each. This figure represents a sharp decline from 283 companies in 2024, a year which saw 51 companies exit the market. The consolidation trend continued into 2025, with the number of corporate landowners dropping by another 40. This consolidation is occurring against the backdrop of Russia's ongoing invasion, which has fundamentally reshaped the country's economic landscape.
Profile of the Largest Landholders
Among the largest landowners, a mere ten companies control one-third of all corporate-held land in Ukraine, with individual holdings exceeding 18,000 hectares. A notable and concerning detail is the location of these entities:
- 16 of these companies are registered in temporarily occupied territories;
- 4 companies are registered in zones of active combat;
- 14 companies are based in areas where hostilities are possible.
Kyiv region hosts the highest number of large landowners, with 38 companies registered there, followed by 28 companies in the city of Kyiv itself and another 28 in Kirovohrad region. In contrast, the regions of Ivano-Frankivsk, Rivne, and Chernivtsi have no large corporate landowners at all.
Prior to the full-scale invasion, an average of about 10,000 hectares of land were sold weekly in Ukraine. That figure is now four times lower. Experts note that for big business, land purchase is a multi-decade, billion-dollar investment. Under current wartime conditions, capital is more often directed toward supporting working capital, covering logistical and export risks, and repairing damaged infrastructure like elevators, warehouses, and machinery. Businesses are opting for a flexible mobility model—leasing instead of owning—which allows for quicker responses to risks and changes in operational regions. Land is now primarily purchased only by players planning long-term work and choosing regions with lower risks.
Denys Marchuk, an agricultural sector expert, points out that for Ukraine, this is a historically normal structure for the agro-sector, where 20-25% of the market is held by big business.
The core issue, however, is not the concentration itself, but rather the lack of access to financial resources for small and medium-sized businesses. With available credit, they could compete fully, including through state land auctions.
The reduction in the number of corporate landowners and the increased concentration of land in the hands of large agro-companies may indicate profound changes in the economic environment caused by the war and its consequences. Faced with instability and combat operations, the agricultural sector is confronting new challenges that influence investment decisions. Access to financing and market stability remain critically important for fostering the development of small and medium-sized businesses, which could, in turn, positively impact the country's overall economy.