Corn at the maximum: in Ukraine, corn was sold at an auction for 120% more than the starting price

In Ukraine, at an open auction through the electronic system “Prozorro.Sales” over 340 tons of corn were sold with a record premium to the starting price. This was reported by the press service of the Assets Tracing and Management Agency (ARMA).

According to the results of the auction, the value of the lot reached over 1.6 million hryvnias, which is twice the initial estimate of 723 thousand hryvnias. Thus, the final price for grain was 120% higher than the starting price, which became an example of high demand for agricultural products even in difficult economic conditions.

Three participants competed in the auction, which indicates healthy competition and real interest of business in such auctions. It is specified that this is about the sale of assets that were transferred to the management of ARMA in accordance with current legislation.

All proceeds will be directed to the ARMA deposit portfolio, and part of them will be used to purchase military bonds. This will allow supporting the Defense Forces of Ukraine, which is a priority in the current situation.

ARMA emphasizes that such transparent auctions allow for effective management of seized property and at the same time attract resources to strengthen the country's defense capability. In addition, the successful implementation of lots demonstrates the business's trust in the electronic system "Prozorro.Sales".

The sale of corn with a significant excess of the starting price became another evidence that the agricultural sector remains a reliable source of revenue to the budget, even in wartime. This is also a signal to owners of other assets that can be effectively used through the state bidding system.