BEFL Rating: Russia’s Major Agricultural Firms Expand Land Holdings by 1.1 Million Hectares, Totaling 18.5 Million

By the end of May 2024, the combined land holdings of the 77 largest Russian agricultural companies reached 18.5 million hectares, marking a 1.1 million hectare (6.3%) increase from the same period of the previous year. BEFL, the audit and consulting firm, reports that the top ten companies have maintained their rankings within the industry.

The latest ranking of Russia’s largest agricultural landowners lists 77 companies with a collective landholding of 18.5 million hectares, an increase of 1.1 million hectares over the previous year. While three companies have dropped out of the ranking, seven new entrants have been added, bringing a total land bank of 990,000 hectares. The top ten firms alone account for 7 million hectares, representing 38% of the total land bank included in the rating.

BEFL’s estimates indicate that the total area of agricultural land under the control of rated companies has expanded by 10.8 million hectares since 2014, with annual increments ranging between 0.6 and 1.4 million hectares. According to the most recent figures from the Russian Registration Authority (Rosreestr), dated January 1, 2023, the total agricultural land owned by legal entities stands at 23.6 million hectares.

“On one hand, currently rated entities are expanding their land holdings, with leaders being added and middle players growing to join the ranks of the large. On the other hand, the number of rating participants is increasing, driven by the expansion of the strongest market players and the market’s sufficient openness,” the experts say.