Russia, the world’s third biggest wheat exporter last season, has the cheapest agricultural lands among six grain-exporting regions analysed by the SovEcon consultancy.
Russia’s most expensive agricultural land, in the southern Krasnodar region, can be bought for about $1,711 or €1,292 per hectare (2.47 acres), less than land in the US, the east or west of the EU, Brazil, and Argentina, according to market research from SovEcon.
The prices compare with an average €8,4896 a hectare in France and Germany, €6,796 a hectare in the US and Brazil, €5,286 in Argentina, and €3,398 in eastern members of the EU, SovEcon said in its first farmland price survey.
The US, Argentina, EU, and Brazil are the first, second, fifth, and seventh biggest exporters of grains respectively this season, while Russia is the ninth biggest, US Department of Agriculture estimates show. Canada, Australia, and Ukraine rank third, fourth, and sixth, and India is eighth.