Sale Of Agricultural Land Research Articles

Правові аспекти земельної реформи як основного національного ресурсу України: аналіз проблеми дослідження

The article delves into the critical issues surrounding land reform in Ukraine, highlighting its significance as a national asset. The authors examine the historical background and the legal challenges in transitioning Ukraine’s agricultural land into a functional market economy. With agriculture being a cornerstone of the country’s economy, comprising over 68% of its total land area, reforming land relations has become essential for Ukraine’s sustainable development. Key points include the importance of aligning Ukraine’s legal framework with international and European standards, as outlined in the “Ukraine 2020 Sustainable Development Strategy.” The article discusses the core elements of the land reform, such as the creation of a transparent legal system, the liberalization of agricultural land transactions, and the establishment of mechanisms to improve land governance, food security, and environmental protection. The authors emphasize that the successful implementation of land reform depends on the development of a robust legal infrastructure that balances economic growth with the protection of national interests. Moreover, the paper addresses the existing legislative framework, particularly the Land Code of Ukraine and the Constitution, which recognizes land as a public resource under state protection. It critically analyzes the ongoing debate on lifting the moratorium on the sale of agricultural land and examines how this process could impact Ukraine’s agricultural sector, the economy, and landowners. The authors also compare Ukraine’s land reform experience with that of other European countries, exploring how international practices can inform domestic policy. Special attention is given to the legal, economic, and social consequences of introducing a full-scale land market, including the potential risks and benefits for rural communities and agricultural enterprises.Overall, the article provides a comprehensive analysis of Ukraine’s land reform, proposing practical solutions for overcoming legal and economic barriers to sustainable landmanagement.

EFFICIENCY OF THE PROCESS OF BALANCED LAND USE UNDER MARTIAL LAW

The article discusses the process of balanced land use and its efficiency, which is an extremely important element of socio-economic development of any country. Since land is Ukraine's main natural resource, the basis of life and a source of income, the efficiency of using this potential is not being realised to the fullest extent in the current environment. For more than two years now, Ukraine has been under constant shelling and land seizures, so the need to improve the level of land protection is urgent and, given the difficult conditions of hostilities, is becoming a top priority. The purpose of this article is to analyse the functioning of the land market and highlight the main changes and problems that have arisen in the course of the land reform. Methodology. For this purpose, both general scientific and special methods of cognition of phenomena were used: analysis, synthesis, selection and generalisation. Results. This allowed to identify the relevant tasks, which are to create fundamental conditions and rights for all users to dispose of the land fund, as well as to ensure compliance with the responsibility for improper use. This may become an important prerequisite for introducing new effective ways to address and improve the process of balanced land use. The revision of the existing legal framework for regulating the land market after the lifting of the moratorium on the sale of agricultural land, especially in the context of military operations in Ukraine, has helped to ensure, first and foremost, the protection and guarantee of property rights. Practical implications. The relevance of this paper lies in the implementation and formation of a land policy that will primarily ensure the development and functioning of the land market in the system of balanced land use, both today and in the near future. Value/Originality. The proposed new mechanisms for establishing land relations in a market environment will help to increase the efficiency of land use and the value of land resources, which should be extremely important for the growth of the full economic potential of the state and strengthening the position of Ukraine as a guarantor of global food security.

Making Markets Through Coalitions: The European Union and the Debate Over Ukraine's National Resources

AbstractThis article studies how the European Union (EU) influences the dynamics between supporters and opponents of market liberalization in partner countries. We focus on Ukraine's attempts to safeguard timber trade and agricultural land sales from international markets through moratoria before 2022. We find that the EU intervenes in domestic debates both directly and through domestic pro‐market coalitions to frame these moratoria as expressions of ‘vested interests’ and instances of state weakness. The EU effectively linked the free trade argument with protecting the environment (as the moratorium tolerated illegal logging) and human rights (as the land moratorium denied landowners their property rights). The EU thus fostered discourses and coalitions prioritizing liberalization over protectionist interests and environmental concerns. This article implies that the EU should encourage debates around market liberalization rather than de‐legitimize opponents, as reconstruction in Ukraine following Russian aggression will require both EU assistance and broader internal coalitions.

LAND MARKET: REALITIES OF UKRAINE AND EXPERIENCE OF POLAND

Agricultural lands are an indispensable resource for ensuring food security in Ukraine. Ukraine is on the path of reforming land relations and forming a market for agricultural land. Since Poland is close to Ukraine in terms of climatic conditions and land use, its experience had been taken into account. The purpose of the article is to form the process of the agricultural land market in Ukraine based on the experience of Poland. To study the research problems, comparative methods of research and observation have been used, as well as methods of synthesis, analysis and abstract logical approaches to the search, justification and determination of periods of development of land relations in Ukraine and Poland. The article discusses the approaches of scientists to determining the essence of the “land market”, outlines the conditions for the development of the land market in European countries (Holland, Switzerland, Austria, Germany, Great Britain, Scotland, Spain, Poland, Bulgaria, Romania, Croatia, and Estonia). The periods of development of the land market in Poland and Ukraine have been highlighted. An analytical assessment of the market for the purchase and sale of agricultural land in the regions of Ukraine has been carried out (indicating the number of transactions completed and the total area of land plots). Comparative information on the cost of land in the European Union countries has been provided. The authors’ vision of the process of forming the agricultural land market in Ukraine is summarized, highlighting: I - Legal regulation; II - The step-by-step process of implementing the reform in accordance with the legislative framework, features of the implementation of land reform under martial law; III - Implementation of the land market using a transparent system through the Application (Unified portal of public services) Action; VI – State control over available agricultural lands and their legal structure; V – Conducting an expert assessment of land plots and/or determining their regulatory assessment; VI – State control over available agricultural lands and their legal structure; VII - Constant monitoring of the functional use of agricultural land.

Opening of the agricultural land market in Ukraine: advantages, disadvantages and ways to solve them

The paper covers the topic of opening the land market in Ukraine, in particular, focuses on the advantages, disadvantages and suggests ways to solve them. The author studies the main regulatory legal acts in the field of agricultural land. It is found that the quality of agricultural production and the overall food security of the state depend on the level of functioning of the land market. The authors examine the arguments and counterarguments for lifting the ban on land sales. It is concluded that the current moratorium only exacerbated the existing problems of the land market. The author analyzes the number of contracts for the sale and purchase of agricultural land plots by region. The analysis shows that due to the hostilities in Donetsk, Zaporizhzhia, and Kharkiv regions, this indicator is low compared to other regions. Both positive and negative aspects of the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Regarding the Terms of Agricultural Land Turnover" of July 01, 2021 are highlighted. In particular, the author focuses on problematic aspects, such as: lack of equal access to credit resources for all forms of business in the agricultural sector; lack of criminal liability of state registrars for registering land involved in fraudulent schemes; unregulated sale of agricultural land to foreigners and some others. It is found that only proper and clear legislative regulation will help to eliminate the existing gaps.

Estimating the Demand for Groundwater: A Second-stage Hedonic Land Price Analysis for the Lower Mississippi River Alluvial Plain, Arkansas

AbstractWe estimate the benefits of the saturated thickness (water-bearing porous material) of the alluvial aquifer in Arkansas through an application of the hedonic price model to the sale of agricultural land. There is evidence from the first-stage analysis of diminishing returns from increasing saturated thickness. Using a survey of farmer operators’ preferences and socioeconomic characteristics, we recover the underlying demand function for saturated thickness in a second-stage analysis. Shifts in the demand function reveal that produced/social capital can be a substitute or a complement to saturated thickness, and human capital is a substitute for saturated thickness.

Features of changes in the value of land plots in the conditions of ensuring food security in Ukraine

The paper studies the peculiarities of changes in the value of land resources in the conditions of ensuring food security of Ukraine. It has been established that the land market is recognized as one of the key components of the agricultural sector and plays an integral role in the formation of the country's food security. It was found that the highest prices for arable land and perennial crops are observed in Kyiv region, hayfields and pastures in Kharkiv region, and pastures in Cherkasy region. It was established that as a result of Russia's full-scale aggression against Ukraine, it was not possible to conclude more than 102 thousand agreements on the purchase and sale of agricultural land on a total area of 282 thousand hectares, with a total cost of UAH 11.5 billion. It was found that the highest activity of purchase and sale of agricultural land is observed primarily in the central regions of Ukraine, where the share of agricultural land in circulation exceeds 1%. It was established that the average price for 1 hectare of land in February 2022 was UAH 33,429 per hectare, and according to the results of May 2022, when deals on the land market began to be concluded again, the price was fixed at the level of UAH 37.4 until August 2022 showed positive dynamics, reaching UAH 43.9 thousand, and in September 2023, the average price was UAH 41,316 per hectare. It is established that the value of agricultural land is gradually increasing, where in 2023 the average price reached 35.4 thousand hryvnias per hectare, which is 13.5% higher than in 2022 and almost 22% higher than in 2021. It was found that the highest land prices are observed in Kyiv, Ivano-Frankivsk and Lviv regions. It was established that the market capitalization fell, that is, in December 2021, purchase and sale agreements were concluded for 936 million UAH, in August 2022 - for 74.2 million UAH, and in July 2023, we observe positive dynamics of market recovery - agreements were concluded sales by UAH 596.9 million, in August by UAH 611 million and in September by UAH 636 million.

MANAGING CHANGE IN LAND RESOURCE USE: THE EUROPEAN EXPERIENCE

The subject of the study is the management of shifts in the use of land resources. Methodology. The research uses general scientific methods: theoretical generalization, methods of positive and normative analysis, and methods of statistical analysis. The goal is to study the European experience of managing the changes in the use of land resources. Research conclusion. The comparative characteristics of the state of land use in European countries and Ukraine were carried out. The place of Ukraine in the European land use is shown. Today in Ukraine 32.7 million hectares of arable land is cultivated, which is about one third of the European arable land. According to the statistics, one Ukrainian has twice as much agricultural land as one European. The total area of Ukraine on the scale of Europe occupies about 6% of its territory, the area of agricultural land is 19% of agricultural land in Europe. The level of arable land in Ukraine is 54%, while in Europe this indicator reaches barely 35%. The main stages of changes in the use of land resources through the prism of the normative and legal component of land reform are highlighted. Retrospective data on the formation of land relations, as well as the formation of the land market in Ukraine are revealed. The main structure of all Ukrainian lands was analyzed. The analysis of the ownership structure of agricultural land shows that the majority of land is privately owned – 31.0 million hectares or 75%, 8.7 million hectares or 21% are state owned, and 1.7 million hectares or 4% are communally owned. The dynamics of price changes for agricultural land in European countries are presented. It was noted that in comparison with 1990, before the establishment of an independent state, there have been drastic changes in the distribution of land according to forms of ownership, which is a direct result of the land reform. It was emphasized that despite the lifting of the moratorium on the sale of agricultural land, the land reform is still ongoing, and in connection with it, significant changes in the use of land resources are taking place. One of the most difficult tasks is to complete the reform of land relations and establish a unified land use system that can combine the freedom of land ownership, its effective use and social justice in the distribution of land. The world experience of managing changes in the use of land resources has shown that the liberalization of the agricultural land market has different scenarios for different countries. The Ukrainian economy has been in need of market opening for a long time.

Estimating the effect of a land parcel index using hedonic price analysis

The purpose of this study was to statistically test the effect of a parcel index – consisting of a combination of a soil index, a fertility index and a location index – intended to be used as a price-determining indicator for the sale of agricultural land at farmland markets. In the hedonic price model, the coefficients of the variables representing parcel index, population, gross return and parcel irrigation investment status were positive and statistically significant at a significance level of 0.01. There was a negative relationship between parcel size and sale price, which implied that the selling price per decare tends to decrease as the parcel size increases. In the study area, the prices of farmland with large parcel sizes and irrigation efficiency investments were higher. The population density in the region and gross income from farmlands were the major factors that generated demand for the land. The hedonic price model establishes an important link between the parcel index and the sale price of farmland. Based on this link, parcel index-based pricing can contribute significantly to the creation of a farmland market in Turkey.

Legal and Socio-Economic Conditions Underlying the Shaping of the Agricultural System in Poland

The aim of this study was to analyze the role of the state in managing the Polish market of agricultural property through the introduced legal regulations. The analysis was based on declarations of intent to exercise pre-emptive rights to agricultural property that were issued in the province of Warmia and Mazury between 2016 and 31 December 2021. Legal regulations aiming to restrict the purchase of the agricultural property of the State Treasury Reserve (STR) in particular by foreign buyers came into force in 2016. At present, the main task of the National Support Center for Agriculture (Polish acronym: KOWR) is to purchase and repurchase agricultural property from private owners (pre-emptive right and the right of purchase). KOWR exercises its pre-emptive right to agricultural property before it is offered to other buyers, and it is entitled to purchase that property on the conditions specified by the parties to the agreement and for the agreed price. The research results justify the conclusion that the Polish state’s interventionism in the sale of agricultural land has an impact on the shape of the agricultural system in Poland.

Sale of Agricultural Land in the Coastal Strip on the Example of Selected Municipalities of the Kamieński and Gryfice Districts

Sale of Agricultural Land in the Coastal Strip on the Example of Selected Municipalities of the Kamieński and Gryfice Districts

Sale of undeveloped agricultural land as a base for VAT taxation

Sale of undeveloped agricultural land raises problems of its VAT taxation interpretation. In view of absence of rigid normative criteria for defining economic operations, judicial decisions, which evolve over time, play a key role in this respect. The objective of this article is to indicate under what circumstances a natural person supplying agricultural real property is regarded a professional and when they act as a private property manager. The structure of the article has been divided into three sections. The first includes general remarks, while the second indicates the objective and subjective scope of VAT taxation on sale of undeveloped agricultural land. The third offers the conclusions. The article presents the following research hypothesis: a natural person registered as an active VAT payer for agricultural business should not always be obliged to pay tax on the sale of agricultural land. The following research methods were used in the article: legal-dogmatic, historical and comparative.

Transformación de las relaciones territoriales en Ucrania a las condiciones del mercado

Land ownership issues are especially important due to the historical experience of land nationalization of Ukrainian peasants. The sphere of land relations in Ukraine has undergone a process of constant reform since the country’s independence. At the present stage, the abolition of the moratorium on the transfer of ownership of agricultural land is historic for Ukrainian citizens. In consequence, the clarity and transparency of legal procedures for the transfer of land ownership to citizens of Ukraine become particularly relevant.
 In connection with the European vector of Ukraine’s development and gradual economic integration with the European Union countries that have experience in the agricultural land market, it is important to find an appropriate legal model for regulating the circulation of agricultural land in Ukraine, using the experience of the European Union. Land lease relations, as a main means of using agricultural lands for a long time in Ukraine, are considered in the article.
 The adopted Law of Ukraine “On amendments to some legislative acts of Ukraine concerning the circulation of agricultural lands” is analyzed. According to its provisions, the moratorium on the sale of agricultural land was finally canceled, which allowed landowners to freely dispose of their property. In the article, it is also proved that the main prospects for the development and functioning of the land market in Ukraine are: 1) foreign investment in Ukraine, 2) the possibility of free disposal of agricultural land plots, 3) attracting additional resources for local communities, 4) stimulating the agricultural sector, 5) increasing the efficiency of production on land.

CHANGES IN THE AGRICULTURAL LAND MARKET IN POLAND AFTER 2004

The purpose of the article is an attempt to answer the question about the impact of covering agricultural holdings by the CAP instruments as well as the legal and institutional control of agricultural property turnover on the agricultural land market in Poland after 2004. The analysis covers non-market turnover, sale of agricultural land in private trading and from the State Treasury Stock and prices of agricultural land. The source literature, legal regulations and figures from the database of the Ministry of Justice, publications issued by the Statistics Poland, market analyses of the Institute of Agricultural and Food Economics – National Research Institute in Warsaw and the report on the activities of the National Support Centre for Agriculture 2020 were used in the study as the source material. The method of horizontal and vertical comparative analysis was applied to develop the collected material, assessing the given phenomenon in the years and by voivodships. The agricultural land market, both in terms of the number and value of transactions and prices, showed a strong upward trend. These processes, apart from the macroeconomic situation, were influenced by Poland’s accession to the EU and the financial benefits resulting from participation in the Common Agricultural Policy (CAP). Legal regulations referring to the agricultural land market were also an important component. This market is characterized by regional diversification.

Земельна реформа в Україні

Abstract. Introduction. Land reform is a set of measures aimed at solving complex issues of land relations regulation based on rational, efficient and sustainable land use. It guarantees citizens and local communities the right to own land, the formation of a transparent mechanism for the distribution and circulation of land resources, as well as an effective system of state management of land use. Purpose. The aim of the article is to analyze the relevance of the new land reform of Ukraine, the basic requirements for the sale and purchase of agricultural land, study the structure of the land fund of Ukraine, composition and structure of agricultural land, distribution of crops by ownership, analytical assessment of expected results from law enforcement. Results. Since the introduction of land reform in Ukraine, many problematic factors have been identified that slow down the process of concluding agreements for the purchase and sale of agricultural land. In particular, the following problems of land sales were identified: long-term verification of documents, imperfect legislation, refusal of notaries to enter into sales agreements, lack of supply in the land market, shortcomings of credit schemes for land purchase, high cost of credit. Conclusions. As a result of the analysis of land reform in Ukraine, it can be noted that the reform opens new opportunities for landowners, farmers, communities and all Ukrainians who previously did not have the opportunity to acquire and dispose of land. The population is free to dispose of its property, as befits the full owners of a democracy. The reform contributes to the economic development of the regions and the country as a whole

European green deal: Experience of food safety for Ukraine

The systematization of European experience in the formation of food safety through research and analysis of European regulations and strategies. The key principles of the European Green Deal on food safety were analyzed, namely the implementation of the principle of sustainability of food systems and policies for adaptation to climate change. The levels of food safety of Ukraine and Poland were compared according to the main components: food availability, access to food, food safety conditions. According to the results of a sociological study, the level of food safety of Ukraine in terms of the introduction of the land market was assessed. A portrait of a landowner was formed, and the presence of a land plot affects the state of food supply. Based on the analysis of the main provisions of the European Green Deal and food safety policy (on the example of Poland), the areas of increasing the level of food safety in Ukraine were identified: completion of land reform and lifting the moratorium on the sale of agricultural land; ensuring the production of value-added products; adaptation to climate change, development, and implementation of a national program for rural development.

Формування доходів бюджету в контексті становлення ринку землі в Україні

The main problems of land market formation are researched in the context of land reform in Ukraine. Thus, the lifting of the moratorium on the sale of agricultural land has become a new feature in the economic history of Ukraine, which provides possibilities to develop the agro-industrial complex and increase the volume of agricultural production. An overview of the formation of the land market by neighboring countries: Poland, Romania, Slovakia and Hungary is carried out. It is specified that the situation on the land market of these countries is significantly different from the situation in Ukraine, but it is possible to draw parallels in the context of the price, the area that can be purchased, and, in some cases, the terms of sale. A review of the legislation of Ukraine regulating the land market is made. Attention is focused on expectations from the sale of agricultural land and the impact of land sales on the investment climate in the country. Amendments to the tax legislation on the payment of taxes for the use of land starting from 2022 are outlined. In accordance with regulatory legal acts, the concept of a minimum tax liability for landowners is indicated, which includes the payment of taxes, fees, payments (control over the collection of which is entrusted to regulatory authorities) related to the production and sale of their own agricultural products and/or property and/or use (lease, sublease, emphyteusis, permanent use) of land plots classified as agricultural land. The article presents the mechanism for calculating the minimum tax liability for land for which the normative monetary valuation was carried out and for which there was no monetary assessment. Entities that are exempt from the minimum tax liability are identified. Attention is focused on the legislative and legal norm for individuals regarding the area of land, more than 0.5 hectares, which is subject to taxation by the minimum tax liability.

COMPARATIVE CHARACTERISTICS OF THE LAND MARKET IN THE COUNTRIES OF EUROPE AND UKRAINE: PRACTICAL ASPECTS OF CONCLUDING BUYING AND SALE AGREEMENTS AGRICULTURAL LAND

The provisions of the scientific article provide a comparative description of the functioning of the “land market” in Europe and Ukraine, as well as analyze the practical aspects of concluding contracts of sale of agricultural land. The authors propose to understand the “land market” as public relations regulated by the current legislation of Ukraine arising from the exercise by landowners of subjective rights to such plots, including public authorities and local governments exercising the rights of the owner to land on behalf of the Ukrainian people. The study examines the experience of the “land market” and the conclusion of contracts of sale of the latter in Germany, Latvia and France and identifies common and distinctive features of such functioning with the practice of Ukraine. The study analyzes the positive provisions of the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on the Circulation of Agricultural Land”, namely: lifting the moratorium on the purchase and sale of agricultural land; establishing requirements for citizens of the country regarding the availability of special education and experience in the field of agriculture; setting restrictions on the maximum area of agricultural land provided to one person; creation of a special body, the main function of which is to control the sale and purchase transactions; granting a preemptive right to a tenant, a local government body or a specially created body; establishment of control for the purpose of acquisition of agricultural land and the price of the contract. The authors identified shortcomings in the procedure for concluding contracts for the sale of agricultural land under Ukrainian law and proposed to use the experience of leading European countries that have already passed their own path of transformation of the “land market” and have accumulated extensive positive experience of the institute of purchase and sale of agricultural land. appointment. The authors came to the conclusion that the issue of the legal procedure for concluding contracts of sale of agricultural land still needs detailed scientific elaboration and improvement in practice.

LAND USE OPTIMIZATION IN UKRAINE AT THE STAGE OF LAND MARKET FORMATION

In the context of the reform of the sale of agricultural land, the priority is to optimize land use, which is to find a balance of land that would meet their environmental, economic and social compliance with the functions of the agricultural sector. Two main approaches to the optimization process are considered. The first is by intensifying agriculture with significant energy costs, land depletion and the inevitable increase in environmental pressures. And the second is the gradual formation of a balanced agrosphere with alternative agriculture and environmentally friendly livestock.
 The structure of land plots in terms of regions of Ukraine, which in the conditions of the land market does not promote balanced land use, is analyzed. Acquired arable land will not be transferred to other categories of land at auctions, even if it is significantly degraded.
 When forming the pricing policy in the land sector, it is important to compare the value of arable land in Ukraine and European countries. This comparative analysis shows the underestimated value of arable land in Ukraine (the lowest figure in Europe is less than 1 thousand euros / ha) at the initial stage of sale. It is estimated that the six-year lease of arable land at this stage of land reform is more appropriate than their sale.
 The fact of plowing part of pastures under these conditions and increasing the share of arable land in river valleys, drained lands, etc. is alarming. According to the results of the calculations, Table 1 shows the value of arable land, pastures, hayfields by administrative regions. The comparative characteristic of agricultural lands on the available highly productive lands is carried out. The highest share of such lands in Ternopil, Poltava and Cherkasy oblasts was found out, which provides for their highest valuation.
 The created map diagram of the general cost assessment of agricultural lands demonstrates their land resource potential and reflects the spatial differentiation of this indicator by typological groups of regions. The authors analyzed the optimization model of land use in Ukraine, developed by a group of leading domestic scientists under the project "Sustainable Development Programs", and proposed to consider the category of productive lands as basic arable lands, the share of which in Ukraine is 44.8% of arable land.
 The directions of reforming land relations in Ukraine taking into account historical traditions and granting the highest status of the basic land user - the rural community are offered.
 At the same time to make calculations, based on the results of which to identify production types (specialization) of farms, which will be the most objective, as it takes into account local natural and economic conditions;
 - on the basis of specialization of peasant farms, study of types of land use in enterprises of various forms of ownership and data on natural land fertility to perform agricultural zoning of the territory;
 - in each allocated agricultural area, the whole array of land in use, divided into at least 3 groups:
 1) lands of peasant farms, which over time should be granted the right of life ownership with the possibility of inheritance and on which the state should support non-profit, subsistence farming;
 2) lands withdrawn from agricultural circulation due to the destruction of their natural fertility and those to be transferred to the nature reserve fund, and, over time, included in the national ecological network;
 3) lands that have not yet lost their natural fertility and those that are in the use of agricultural enterprises of various forms of ownership.
 Key words: land optimization, monetary valuation of agricultural lands, land resource potential, spatial differentiation of lands, land relations.

The global context of land market liberalization in Ukraine: opportunities and risks for rural development

The article considers various global factors influencing rural development under the conditions of liberalization of the agricultural land market in Ukraine. The author assesses the impact of global processes and global capital on the development of national farms, income distribution, access to land resources, production processes and equitable development in this country. It is proved that globalization, leading to increased concentration of agri-food production and business and expanding the role of large transnationalized corporations, is primarily aimed at exploiting the country’s existing comparative advantages, rather than increasing them, and promotes, in many recipient countries, a model of double economy split in the technological and socio-economic dimensions into qualitatively heterogeneous sectors. The author concludes that although global factors of agricultural production may have a relatively positive impact in macroeconomic terms, the dominance of multinational (transnational) companies, large exporting companies and financially powerful sovereign welfare funds in the market may create risks and threats of crowding out Ukrainian farmers from the market and blocking the sustainable development of rural areas. At the same time, Ukraine's agricultural sector will be transformed into a raw-material link of global food production chains dominated by large transnationalized entities, and a kind of raw-material enclave of transnationalized production will be created within the Ukrainian economy. The article argues that in today's global economy, where cardinal transformations are taking place and uncertainty is growing, land will become an increasingly valuable asset, attractive not only to agricultural producers but also to land speculators and those who try to maintain the value of their assets under the conditions of growing global risks. Under such conditions, investment in land will not at all necessarily contribute to the development of agricultural production, because speculative capital in the face of widespread expectations of a long and significant upward trend in land prices will prevail over productive agricultural capital. In general, this might lead to a significant increase in the cost of agricultural production and food prices. The author proves that the liberalization of the land market leads to increased risks of transfer of the control over Ukraine’s land resources to foreigners (sovereign financial funds and major international corporations), given their dramatic advantage by available financial resources for land acquisition, compared to those possessed by Ukraine’s residents. The article substantiates a set of policy measures and national policy instruments necessary to minimize the risks associated with the introduction (in the context of globalization) of free purchase and sale of agricultural land, which comply with the regulation principles of the European Union.