January 9 (SeeNews) - Bulgarian agricultural leasing company Elana Agrocredit [BUL:EAC] said that it signed deals to finance agricultural land purchases worth a total of 4.11 million levs ($2.3 million/2.1 million euro) in December, a notable increase from 1.11 million levs booked in the same month of 2022.
Elana Agrocredit financed the acquisition of 233.2 hectares (ha) of land in the last month of 2023, up from 53.9 ha in December 2022, the company said in a regular report last week.
You can download the 2023 Agriculture industry in Southeast Europe report here
In monthly terms, the value of the company's transactions dropped by 18% from slightly over 5 million levs in November. At the same time, the financed land volume rose 42% from 164.3 ha in the eleventh month of 2023.
The financial leasing company agreed 26 land purchase financing deals in December, four more than in November and up from 12 at the same time in the previous year.
At 1516 CET on Tuesday, shares in blue-chip index member Elana Agrocredit traded 1.87% lower at 1.05 lev on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)