Details about debt collection stages can be found here.  

Debt collection highlights by market 

Latvia: 

This is the time of year when most grain farmers have harvested their crops, and only a few crops have yet to be fully harvested from the fields. The grain farmers who had previously locked in the grain prices have already delivered or are currently delivering the grain to buyers. Some of the farmers have already received payments for the delivery, while others are still waiting for payment. Some of the farmers are holding onto their grain for now, waiting for prices to rise, as they had significantly dropped in August. In September and October, farmers are hoping for a price increase and the sale of their grain, and as a result, LANDE expects a larger number of project repayments during the months of November and December. 

In August, we have agreed upon and signed notarial agreements for 4 defaulted projects (221230-990023, 220630-802793, 230203-247804, 230203-751206), which increases LANDE's chances of recovering funds while avoiding litigation that would make the recovery process more expensive and prolonged. 

Romania:  

There have been no new default cases this month. Overall, the default rate is at a good level of 6%, with good underlying collateral and high recovery potential. Many farmers are actively repaying loans from selling harvest. Government has announced plans to pay 200-300 EUR subsidies per hectare to farmers damaged by drought. 

Lithuania:  

Many farmers in Lithuania have been making advance payment on their loans, with only 4 projects currently seeing delays in payments. With close supervision from the debt collection team, intervals and repayments are being planned carefully and generating better results.